Bangalore: Price trends for different BHK configurations
Bangalore has witnessed the launch of a slew of residential projects in the last few years, many of them from renowned developers. The steady demand for residential property has prompted developers to launch new projects across the city, most of them having a very short gestation period. Analysis of the residential projects launched in Q3 2014 in Bangalore as per CommonFloor data enables us to come up with some interesting statistics, especially with regards to the price trends prevailing for different BHK configurations.
Price trends for 1 BHK residential property
Based on the analysis of 1 BHK residential property launched during Q3 2014, it was seen that all these projects were apartments. The sq. ft. area of 1 BHK apartments ranged between 370-730 sq. ft., with prices ranging between Rs 2,150-4,190 per sq. ft. Prestige Temple Bells by Prestige Group with 2000 units (628 and 648 sq. ft.), costing Rs 4,200 per sq.ft. is a major project. Besides, SNN Raj Greenbay by SNN Builders Pvt Ltd with 1040 units (630 sq. ft.), costing Rs 4,300 per sq. ft. and Provident The Tree by Provident Housing Limited with 560 units (605 sq. ft.), costing Rs 4,609 per sq. ft. are other important projects. All these projects are expected to be completed in 2017.
Price trends for 2 BHK residential property
Based on the analysis of 2 BHK residential property launched during Q3 2014, apartments comprised all the units. The sq. ft. area of 2 BHK apartments ranged between 674-1790 sq. ft., with prices ranging between Rs 1,800-8,230 per sq. ft. As with 1 BHKs, Prestige Temple Bells by Prestige Group accounted for the most number of units (2000) for 2 BHKs as well. The area for these units are in two sizes, 1157 sq. ft. and 1178 sq. ft., costing about Rs 4,200 per sq. ft. Another major 2 BHK apartment projects is SNN Raj GreenBay by SNN Builders Pvt Ltd, with 1040 units in two size categories namely, 1160 and 1200 sq. ft., costing Rs 4,300 per sq. ft. Yet another major projects is Panorama by Brigade Group with 1000 units, measuring about 1030 sq. ft. and costing about Rs 3,640 per sq. ft.
Price trends for 3 BHK residential property
Based on the analysis of 3 BHK residential property launched during Q3 2014, it was seen that apartments comprised about 94 per cent of these. Others included villas and row houses. The sq. ft. area of 3 BHK apartments range between 912-3180 sq. ft., with prices ranging between Rs 1,800-8,320 per sq. ft. As in the case of both 1 BHK and 2 BHKs , Prestige Temple Bells by Prestige Group accounted for 2000 units of 3 BHK configuration. The area of these units are in two sizes, 1587 and 1611 sq. ft., with their prices being about Rs 4,200 per sq. ft. SNN Raj GreenBay by SNN Builders Pvt Ltd, with 1040 units in two sizes, 1395 and 1940 sq. ft., costing Rs 4,300 per sq. ft. is another major project. Besides, Panorama by Brigade Group also launched 1000 units, in two sizes, 1370 and 1659 sq. ft. and costing about Rs 3,640 per sq. ft.
Price trends for 4 BHK residential property
Based on the analysis of 4 BHK residential property launched during Q3 2014, it was seen that apartments comprised about 53 per cent of these. Others included villas and row houses. The sq. ft. area of 4 BHK apartments range between 1790-4050 sq. ft., with prices ranging between Rs 2,791-7,500 per sq. ft. SNN Raj GreenBay by SNN Builders Pvt Ltd accounted for 2000 apartment units of 4 BHK configuration. The area of these units are in two sizes, 1790 and 2225 sq. ft., with their prices being about Rs 4,300 per sq. ft. TGR Ankshu Ecstasy by TGR Projects India Pvt Ltd launched 302 apartments measuring 2800 sq. ft. and costing about Rs 4,250 is another important project. Besides, Vista by Godrej Properties Limited also launched about 250 apartments measuring 2956 sq. ft. and costing about Rs 5,700 per sq. ft.
Analysis of Trends
Based on the analysis of the trends for different BHK configurations for residential projects launched in Q3 2014, it can be seen that apartments are the preferred type of residential property, especially for 1 and 2 BHK units. Among apartments, 2 and 3 BHK units were more preferred compared to other configurations. For both these configurations, there was a wide disparity in the sq. ft. area as well as the price per sq. ft. Hence, it can be inferred that there are a wide range of options available for both these configurations, which the disparity is lesser for 1 and 4 BHK units. Among projects, Prestige Temple Bells by Prestige Group, SNN Raj Greenbay by SNN Builders Pvt Ltd and Panorama by Brigade Group had launched considerably more residential units in different BHK configurations.
