Property registration increases for luxury properties

Q: What kind of luxury properties are going to see hike in property registration?

Abhimanyu Khan, Bangalore

17th September 2013

Real estate News in Bangalore

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Replies (6)

Who has driven the luxury market? Who are the buyers?

Indrajit Kaul, Bangalore

17th September 2013

Comment

Luxury market is mainly driven by the IT professionals in the Garden City. This explains why Whitefield meets the luxury housing concept for the homebuyers in Bangalore. To add to it, NRIs making their comeback in their country is also a point to ponder in this regard, since they account for 40% of the high-net worth property market.

Manjunath, Bangalore

17th September 2013

How did the falling rupee play a crucial role in high-value property registrations?

Indrajit Kaul, Bangalore

17th September 2013

Comment

The hike in the price of properties has somewhat ran between 10-15% in the last 2 years. However, with the fall in rupee value in the last few quarters, a large number of NRIs have worked their way inside the real estate sector of the city.

Despite the appreciation of land rates (3-4 times), which eventually fired up the general price of properties, NRI investment in high-net worth homes in Bangalore has taken off against all odds. High-value properties kick in around 16 percent of the overall revenue earned, albeit, mid-segment houses( ranging between Rs 10 lakh- Rs 1 crore) provide a reasonable chunk to the revenue

Sagar Prasad, Bangalore

17th September 2013

Hi Sagar, Any idea how many high end properties have been registered in last couple of years?

Abhimanyu Khan, Bangalore

17th September 2013

Comment

In the year 2003-04, mere 72 high-net worth properties were registered that brought in around Rs 12 crore. However, in coming times, the city has bear witness to more than 3274 property registrations in high-value price bracket, during the timeline 2011-12

Sagar Prasad, Bangalore

17th September 2013

The sudden increase can be pin on to a general hike in property values in Bangalore and a rise in the interest in the real estate sector among the non-resident Indians. Around 4384 high-net worth property registrations were recorded in the financial year 2012-13, that fetched a lump sum of Rs 865 crore, a big thanks stamp duty and registration charges.

Dushyant, Bangalore

17th September 2013

Comment

Despite the economic slackening in 2008-09, high-value property registrations have mostly been recorded in Bangalore and other prime cities in the last decade. In addition to adverse conditions, although the guidance values have been revised thrice since 2003, the number of luxury property registrations did not take a dip

Sree Potamal, Bangalore

17th September 2013

Why and what is the reason behind the rise is in registration of high-net worth properties in the city?

Abhimanyu Khan, Bangalore

17th September 2013

Comment

In the last few quarters, a great deal of luxury and premium residential units in the Silicon Valley of the nation have been properly conceptualized and tactically marketed. This has fuelled the rise is in registration of high-net worth properties in the city, significantly. The present day high value homes run counter to yesteryears premium homes, which defined luxury based on two factors- strategic location and space.

Sagar Prasad, Bangalore

17th September 2013

According to statistical data and market reports, every one in three buildings in the city would be a high-value property that would run between Rs 2.5 crore- Rs 4 crore. In the last decade, the number of high-value property registrations, ranging between Rs 1.5 cr-Rs 5 cr, in the state have gone uphill.

Sree Potamal, Bangalore

17th September 2013

High-end properties come in various forms namely- penthouses, bungalows, apartments and villas often bearing close proximity to a green stretch or golf course. These kind of properties will see hike in property registration.

Dushyant, Bangalore

17th September 2013

Comment