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- 'Bangalore attractive for real estate'
Bangalore continues to be an attractive market for real estate, with growth rates being maintained at 20 per cent, according to Balkrishna Hegde, President Karnataka Ownership Apartments Association.
"The real estate market in India and especially Bangalore is on a high. The market has seen some stabilisation in the past seven to eight months," he said while announcing the city Realty Expo 2007, to be held in the city on December 8-9.
"Today the market has matured, with compositions being skewed towards actual users, rather than investors in the earlier years. This, along with interest shown by NRIs and reduction in loan rates, is showing a positive movement in the market during the last few months," he said.
Karnataka's growth in software exports and the creation of jobs is leading to increase in demand for housing and this increase is poised to fuel the growth in real estate market in future, said Hegde.
The cosmopolitan outlook of the city, coupled with weather advantage and huge talent pool, is what is holding it in good state, he added.
On the potential growth in budget/mid-segment and high end luxury segments, he said there is huge potential yet to be tapped. As far as mid Rs 35-50 lakh segment is concerned there should be more than 50,000 units in the next one year.
The high-end bracket in India is the fastest growing segment as compared to anywhere in the world and therefore the demand for this segment will be on the rise in the coming days, he said.
5th Dec, 2007CommentQuote0Flag
- Bangalore realty going places
During the announcement of Bangalore Realty Expo 2007 at Dubai, Mr. Hedge said that the demand for residential and commercial real estate is likely to remain strong especially in the backdrop of high GDP growth of above 8%t and strong economic fundamentals. "There is a strong foreign investor interest in Indian Real Estate and this is going to push the markets forward." He added.
Mr. Faisal Rizvi, Chairman, International Realty Committee, KOAPA says, "in the last two years, the real estate market has grown at the rate of 30% and is likely to increase at the same pace in the coming year."CommentQuote0Flag
- Either this is a really subtle dig :) OR ...
If this was a subtle dig, it is very well done :D!
If not, God help you!!! :o.
Btw good practice while quoting other articles assumes you will refer to the publication as well as date of publication (so others can refer).
Anyways, this article is from 2007 Nov - the absolute PEAK of our mania :D