Property market booming in Bangalore

Karnataka Government announces that Bangalore upcoming properties need not allot 10% lung space as vacant space, instead the builders have to pay the guidance value of the 10% space to the BBMP as additional fees. The BBMP will use the funds to create green atmosphere in the city and develop parks at the cost of buyers flats lung space.

Builders and property developers are happy after the announcemnet as they can sell the 10% space at a higher price than the guideline value. 

Mumbai Chennai property market to sell 2 and 3 bhk apartments

In Mumbai instead of 2 bhk apartments and 3 bhk apartments, the Villas are getting more and more demand from the richer in the city and all over India. Mumbai market depends on domestic people's investment and the Bangalore market running on the NRIs investments. Most of the Delhi properties bought in the past by politicians and richer people from Utter Pradesh and Haryana as well as Punjab.

Chennai properties business relies on the IT industry in Chennai and some southerners buying to sell at profitable rates. Growth of the IT sector and automobile sector contributes the real estate boom in Chennai. 2 bhk apartments and 3 bhk apartments in Chennai are sold at premium prices by the developers and resellers. Thiruvanmiyur and Adyar are the hot spots for the real estate business in Chennai. But since the south Chennai is also contributes a considerable share in the real estate business.   

What drives the property market and apartments sale in India

In Bangalore 2 BHK apartments are available in Whitefield and in Electronics city areas with wonderful amenities and in prime locations. Koramangala and Bannerghatta areas also have few 2 bhk and 3 bhk apartments to be sold. After the first quarter gains banks are waiting for the further relaxation in RBI norms on lending home loans. As the central government favoring on reducing the interest rates on home loans, we see some increase in property enquiries for Hosur road properties and bannerghatta road properties. The trend shows people are wanted to buy properties in the outskirts of the city to have a peaceful atmosphere and without any traffic congestion. 2bhk properties are selling like hot cakes in other major cities also. Mumbai and Delhi's Noida locality properties are sold within days of the announcement made.

NRIs are buying properties in India to get some profit out of it. It is said to be, that NRIs contribute 25-30% purchases in real estate segment. But most of the NRIs don't keep the property for a long time if they get a minimum expected profit they would sell and buy new properties. NRIs contribution mainly comes to the NOIDA properties and Mumbai properties. India's business capital Mumbai contributes largely in the growth of the real estate sector. The second major city to contribute in real estate sector is the Bangalore; the global city attracts most number of NRIs than any other city in India. Mumbai's purchases come from celebrities and domestic business people those who want to invest their money for long term gains. Fluctuating share market trends and some unexpected foreign investor’s movements force the local investors to come to the real estate sector.