City Report - Bangalore Market Overview 2009

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Snapshot of the Report:

A concentrated effort by the government has managed to revive the Indian economy and 8+ % of growth is expected in 2010.
Signs of revival in the CBD market, with further supply coming up in Grade A properties, and the Metro Rail nearing completion, leasing activities is expected to pick up in 2010.
The SBD markets of Bangalore will be the engine of growth as completion rates along with rental and capital values being high.
Mixed responses from the PBD market with Whitefield becoming a hot destination for office space.
The retail market’s turn around and expansion plans are being executed. About , 3,585,000 sq ft of area is under construction.
Due to cheaper interest rates, demand for residential property has shot up, especially in 950-1050 sq ft category in Peripheral Residential Market, 15000 apartments scheduled for completion in the following years.

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City Report - Bangalore Market Overview 2009

  1. 1. CITY REPORT BANGALORE MARKET OVERVIEW 2009
  2. 2. CONTENTS Summary p. 3 Bangalore Map p. 4 Bangalore Commercial Market p. 5 i) Overview p. 5 ii) Micro Market Description p. 5 iii) Outlook p. 8 iv) Major Projects Completed p. 9 v) Major Projects Under Construction p. 10 vi) Major Transactions p. 11 Bangalore Retail Market p. 12 i) Overview p. 12 ii) Micro Market Description p. 12 iii) Key Projects Completed p. 14 iv) Key Projects Under Construction p. 14 v) Key Transactions p. 15 Bangalore Residential Market p. 16 i) Overview p. 16 ii) Micro Market Description p. 16 iii) Major Projects Under Construction In 2009 p. 17 Glossary p. 18 CITY REPORT BANGALORE MARKET OVERVIEW - 2009
  3. 3. SUMMARY Bangalore Real Estate Market The commercial market witnessed highest number of The Bangalore Residential market witnessed limited number completions along the Outer Ring Road in the secondary of newly launched projects across the micro markets during business district. The overall Grade A commercial 2009 because the developers postponed the launch of their developments in 2009 crossed the total completed figures of projects on account of ample availability in under 2008 signifying the initial signs of revival. The infrastructural construction projects. The concept of budget apartments development like the Traffic and Transit Management where in the total Built Up Area (BUA) for apartments varied centres, flyovers and ongoing metro construction in the CBD from 950 sq ft to 1,050 sq ft gained popularity in the and the SBD are expected to boost leasing activities in these Peripheral Business Districts. For the year 2010, it is micro markets in 2010. expected that the completion of flyovers, elevated highways and complementary commercial and retail projects will In the Bangalore Retail Market, expansions in secondary high boost the demand for Residential Real Estate in Secondary streets were more active as compared to under construction and Peripheral micro-markets. malls and primary high streets. This was largely on account of limited availability of ready to occupy stores in newly launched malls and vacant properties at reasonable rates on primary high streets. Limited budget for expansion and delay in mall completions, encouraged the retailers to opt for reasonable yet lucrative secondary micro-markets. CITY REPORT BANGALORE MARKET OVERVIEW - 2009 I3I

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