It Hub Bangalore Tops Real Estate Market With Highest Record 2024 Report

In the last quarter, JLL's REIS report says, the Bangalore. housing real estate market has sold 18,550 units. There was a 45% hike in new launches, with 16,537 new units entering the market. Whitefield has 47% of these new launches. It offers upper-mid segment flats. Moreover, the city's unsold inventory has fallen, and it indicates strong sales.

The booming IT sector, growing social structure, and a favorable business habitat drive the demand for posh projects. It has led to an influx of real estate builders and resulted in many new projects.

The Senior Director of JLL India, said that Whitefield has accounted for 47% of the new projects. The other most sought-after areas are around Hosur and Bellary Road. The upper-mid segment flats average price range between 1 to 3 cr. It formed 62% of the new launches in the last quarter.

Whitefield continues to dominate the housing real estate market of the city. It is due to its favorable features, like the IT corridor and the recent extension of the Namma Metro. The places connecting Whitefield to the Airport Cross have attracted several reputable builders. The builders have declared many projects with average prices ranging from Rs 1 to 3 cr.

Samantak Das, the chief economist, also stated that the city's unsold inventory has a noticeable decrease. 25% of the city's real estate sales came from projects launched in the first six months of the year. It indicates a strong mindset of the buyers and high sales.

Prestige Group prelaunch apartment is Prestige Raintree Park.