Bangalore: Affordable apartments gaining popularity
Bangalore has been buzzing with activity as a realty destination in the past few years, more so in the recent past. This is in stark comparison to the plight of many other major realty market which were engulfed by a pall of gloom. The realty market in the city is driven primarily by the end-users. Hence, as expected, a majority of the residential projects launched during the last quarter were in the ‘Affordable’ category (up to Rs 50 lakh).
2 BHKs higher in number
Among all the apartment projects that were launched in Bangalore in last quarter, about 57 per cent are 2 BHK units, as per CommonFloor research. Besides, 3 BHK units accounted for 13 per cent and 1 BHKs for six per cent of the launches during this period. 1 BHKs range in size between 300-700 sq. ft. with the price per sq. ft. ranging between Rs 1,400-3,500. 2 BHKs sized 800-1300 sq. ft. are priced between Rs 1,700-4,700 per sq. ft. while 3 BHKs of 1000-1500 sq. ft. size are priced between Rs 1,700-4,000 per sq. ft.
Projects with most unit launches
Among projects launched in the last two quarters in Bangalore, there were certain projects where the number of units proposed to be constructed was relatively high compared to others. Among 1 BHK projects, Rohan Iksha by Rohan Developers along Sarjapur Outer Ring Road accounted for about 480 units each of sizes 310 and 353 sq. ft. Besides, TGS Capetown by TGS Property along Begur Road accounted for about 230 units each of sizes 600 and 650 sq. ft. Among 2 BHK projects, Rays of Dawn by Provident Housing near Mysore Road accounted for about 400 units of size 883 sq. ft. each. Besides, Emmanuel Heights by Emmanuel Constructions, off Sarjapur Road accounted for about 293 units of size 1115 sq. ft. each. Among 3 BHK projects, again Rays of Dawn by Provident Housing accounted for about 400 units of size 1083 sq. ft. each.
Other price categories
While the ‘affordable’ price category saw the maximum launches, other categories also had decent representations. While the ‘Mid-range’ category (between Rs 50-80 lakh) witnessed about 27 per cent launches, the ‘Luxury’ category (between Rs 80-150 lakh) witnessed about 22 per cent launches.
