If you have postponed buying property in Bangalore just because you think that the rates will come down, think again. Property rates are not likely to go down. Recently, we reported that India, and more specifically Bangalore is going to attract huge investment in real estate sector. According to a recent industry report confirmed that India has received US$3.4 billion in real estate as a part of 19 investments in the country.
Just when the government of India announced its decision on demonetization, a large number of homebuyers started expecting the property rates to come down. The second wave of expectations and hopes started when the government confirmed that GST will be rolled out from July 1, 2017.
The positive impact of demonetization is still under wrap and it suddenly decreased the demand of properties. The sudden fall in the demand appeared due to the messages conveyed among homebuyers. The demonetization move was projected in a way that a large number of potential homebuyers started believing that property rates will fall to great extent.
A large number of people who were interested in buying home or plots in Bangalore started to wait again. As we can see that there is no significant price fall is observed in the last couple of months even the market has witnessed 5 months post demonetization. As there is no significant change visible, the market is still in buyers’ favour. The mistakes home buyers are making is they are still waiting.
From July 1, GST (Central and State) will be implemented and there will be significant changes in the way properties are being sold, purchased, rented out. You can find our list of 5 major facts here.
The current real estate market scenario is an advantage for a large number of people and many of them are enjoying the benefits. Those who were planning to choose mid-range housing opportunities are looking for luxury properties in Bangalore.
Be it luxury villas or villa plots, Bangalore is growing rapidly and at present, the rates are under control. A majority of investors with small capital are choosing luxury real estate to invest, as these properties are undoubtedly going to give higher returns.
Now when there is not a very high demand in real estate, as many homebuyers are waiting for the magic to happen, this is the time when smart homebuyers. In a crowded market, homebuyers have to make compromises if they want something exclusively available. The competition and higher demand results in higher price range and with time, there are high chances that real estate price will go up very soon in the next quarters. So, the right approach is to buy luxury villas or villa plots in Bangalore, as both of these investments have their unique benefits and when purchased strategically, the locations will help you reap the benefits. The areas such as Whitefield and Thanisandra are the gems of Bangalore real estate market and are highly promising in terms of higher ROI.