The first lap of the festive season in India is over. Whenever a festive season commences, people feel auspicious and get the urge to start buying, learning or accumulating new things in their life. This behavior, in turn, makes the market ready to offer the latest and the best products/ services. This also opens up a plethora of offers. Let’s see how this can be attributed to the real estate scene in Bangalore.
Reality Scene in Namma Bengaluru
Specific areas in Bangalore like Hebbal, Horamavu, Nagavara and Koramangala are having a high surge in real estate demand. Ready to move in apartments are on high availability and people are comfortable moving into them easily. East and the South part Bangalore are both catering to the high demand and supply of real estate needs. So on an overall outlook, Bangalore has a decent balance on supply and demand of real estate offerings.
This was, however, was not the scene in the recent past because Bangalore has been a bit slow on delivering the houses or villas because there was a lot in supply. But after the advent of RERA, people have been flocking up to invest on builders who have etched their name in their previous projects
Real Estate & Festive Deals
Whenever a festive phase opens up there brings an exciting segment of offers and rewards. It is estimated that 20% of the sales happen during a single offer festive period. The emotion attached to the festive season purchase is what keeps the buyers and seller busy during this period. However, a prospective builder considers that offers like free car parks, free registration, stamp duty, No GST offer, gold coins & so on is the reason people flock to buy. Instead, people buy for the emotion and the longevity value of the builder.
What holds the future?
Well, many builders are now aware of this emotion and are playing to the forte. Having in mind good quality and a well-etched design triumphs the customers over time, Bangalore can look forward to many other such festive seasons and have an exciting market ahead.