In Bangalore, 2 BHK flat is on high demand and encountered an unparalleled growth due to the increase of prices and fall in affordability. The 2 BHK and 3 BHK flat embrace 90 percent of the market and notably the 2 BHK flat registered a demand of 54 percent, which is approximately equal to the supply in the real estate market. Many top most builders in Bangalore city are looking at building such units. This could predominantly benefit for youngsters, senior citizens and newly married couples.
Not only the high flying costs, there is another reason for demand of 2 BHK flats in Bangalore is more often relocation between cities. For instance, as professionals are being recruited by software companies in Bangalore, the new settlers are gradually looking to buy 2 BHK flats mainly due to small family size and also because of fact that they might relocate again in the future.
For 2 BHK flats, there was a perfect demand and supply in the budget array of Rs 40-65 Lakh about 28 percent in Bangalore. In the same way, upper mid segment comprising of the Rs 65-100 Lakhs, the supply just about matched the demand, which stood at 23 percent of the realty market while the supply stood at 20 percent.
There was a direct contrast to the demand and supply in the budget segments. The budget category of Rs 20-40 Lakh, the demand comprises 28 percent where the supply stood at 19 percent. Electronic city, Whitefield, JP Nagar, Marathalli, HSR Layout, Bannerghatta Road, Mahadevapura, Hebbal and RT Nagar are the current hot spots for 2 BHK flats. These places recorded a nominal 2 percent raise in property value and these are all middle class to upper middle class areas. Several projects are under process by well knowndevelopers in Bangalore.
Closeness to work place, connectivity due to flyovers, broader roads, National High ways and ORRs have ensured Marathalli, Electronic city, Bannerghatta Road and Sarjapur continue to top the list of favored zone.