The experts opine that the economic growth has already taken off and there are expectations that this year will witness a fair rise in demand. The real estate sector along with all other sectors also expects a surge in demand but the market observers opine that there is a steady growth witnessed in the mid-segment by the passing of each year. This is perhaps due to the rise in income among the middle class. There is a spurt in the middle income population also along with the factor that India possesses one of the youngest populations. The market watchers feel that this has led to a rise in the capital appreciation in this category of homes and thus it can be a good and opportune option for the investors too.
The market experts attribute few reasons for the mid segment to be the most lucrative choice for the investor. In the first place although the new launches in this category may seem to be more but there is still a demand supply gap in this segment. The number of the mid segment population is increasing at a faster rate than the supply of the real estate products as the market was in a lull for few years and the city of Bengaluru started attracting the middle income talents who are eager to invest in the city as well. The second reason is the price of the mid segment property is suitably and attractively priced and a potential is being foreseen by the people in the future. The third reason is that it is easy liquidity as these mid-segment properties are easy to get disposed compared to the high end properties.
The observers point out that end-user demand all along has faced difficulties in the cities and towns which are based on service sector but Bengaluru being mainly driven by the IT and ITeS industry the demand for the middle income housing was very healthy all along. The experts note that prices will remain stable and thus this is a good time to invest as the capital values are expected to appreciate from where it is now. This ensures good returns on investment in the medium to long term.
GOOD INVESTMENT OPTION
Many officials and analysts of the top real estate consultant firms report that the mid segment demand of real estate locations in Bengaluru has been witnessed to be very high in the recent times with a capital appreciation of 60 to 65 percent during the last there years. Cities like Gurgaon and Delhi-NCR are also witnessing a steady growth in the mid-segment too.The observers point out that end-user demand all along has faced difficulties in the cities and towns which are based on service sector but Bengaluru being mainly driven by the IT and ITeS industry the demand for the middle income housing was very healthy all along. The experts note that prices will remain stable and thus this is a good time to invest as the capital values are expected to appreciate from where it is now. This ensures good returns on investment in the medium to long term.
MID SEGMENT SITUATION IN THE CITY:
According to various sources our analysts have worked out that the average unit size of mid-segment options is in the price range of Rs. 3,900 to Rs. 4, 800 per sq. ft. for areas ranging from 1,200 sq. ft. to 1, 345 sq. ft. Average unit sizes in the East of Bengaluru ranges between 1,100 sq. ft. to 1, 400 sq. ft. and the price ranges between Rs. 4, 200 to Rs. 4, 800 per sq. ft.
In the West of Bengaluru the price ranges from Rs. 3, 600 to Rs. 3, 800 per sq. ft. for average sizes of 1, 100 to 1,500 sq. ft.
The real estate agents opine that most of the projects in the mid segment housing ranges in the price levels of Rs. 50 lakhs to Rs. 1 crore developed by both grade A and grade B developers. The research of top real estate survey firms reveal that there are more than 65,000 units in the mid segment category which are being constructed by the grade A developers.
In the North West the size of a minimum two-bedroom apartment is 1, 200 sq. ft. at a cost of about Rs. 60 lakhs. A three bedroom apartment would cost around Rs. 78 lakhs of size of about 1, 500 sq. ft. and a four bedroom would cost around Rs. 1.38 crores of size of about 2, 800 sq. ft.
In the south east and south west the price varies within a range of Rs. 3 to 5 lakhs for a two bed room flat and for a three bedroom apartment the price would vary by Rs.5 to Rs. 10 lakhs than the prices in the North West. The four bedrooms can vary with a price range of Rs. 10 to Rs. 20 lakhs.
FEW LOCATIONS WITNESSING HIGH MID SEGMENT GROWTH:
According to the market observers and top research firms the mid segment homes and apartments are increasingly coming up in Devanahalli, Hennur Road, Hebbal, Jakkur, Thanisandra Main Road and Hormavu in the north; Old madras Road, K.R. Puram, Old Airport Road and Whitefield in the East; Yeshwantpur, Jallahalli, Yellahanka and Sahakar Nagar in the north west; Bannerghatta Road, Begur Road Harlur Road, Hosur Road, Marathahalli, Bellandur and electronic City in the south and southwest; Banashankri, Kanakapura Road and J.P. Nagar in the south-west.
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The increase in demand can be also witnessed in Doddaballapur road, Mysore Road, Tumkur Road, Kangeri and Magadhi Road too. There is an improved social and physical infrastructure improvement along with expansion in the IT and ITeS sector in this belt along the Outer Ring Road till Whitefield and thus this belt is witnessing the emergence of mid segment options in a big way.
Now housing problem is very common. There are many real estate company. They trying to increase there business and helps to solve this problem. There are many online real estate auctions you can see.
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