Koramangala commercial real estate

Q: What is the status of the commercial real estate in Koramangala?

Krupa Vasavaraj, Bangalore

8th April 2013

Real estate News in Bangalore

koramangala

bangalore realty

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There was a marginal increase in rental value. The quarter saw pre-commitment of around 6.7 lakh sq ft, mainly by IT companies in peripheral locations of North and outer Ring Road. The all over vacancy level was registered at 14.3 percent, with Grade A properties registering a vacancy of 13 percent. According to a real estate expert, vacancy level for Grade A will remain under pressure, but the rental values may increase in Whitefield and Outer Ring Road.

Dwarkesh,

10th April 2013

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It is believed that with few mixed used projects coming up in this area will give a boost to the upsurge in Koramangala. Many companies have already started to move in to newly developed properties. Also, Koramangala has benefitted a lot because of Outer Ring Road. In the last quarter, Bangalore witnessed approximately 1.6 million sq ft of Grade A property supply. The supply was mainly focused on peripheral location of Outer Ring Road because of good connectivity and growing demand for residential properties in and around this area.

Roshan Singh, Bangalore

10th April 2013

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The advantage of the locality is that it is situated in the central position, which attracts investors. The average price for commercial properties was at Rs 12,862 per sq ft and retail property price was at Rs 13,929 per sq ft. Both the segments have seen an increase by 10-18 percent.

Tejesh Kumar, Bangalore

10th April 2013

Comment

Koramangala has turned into a commercial hub. From shopping malls to offices, this place is on a commercial high. In the last fiscal, the price for commercial properties has witnessed a rise between 10-12 percent and this year too, a similar hike is expected.

Lokesh Patwa,

9th April 2013

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Commercial real estate sector in Koramangala has attracted large number of real estate developers and builders. Residential buildings in this area are replaced by commercial ones.

Abhimanyu Khan, Bangalore

9th April 2013

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