Bangalore Biggest Real Estate Market in India 2024 Report

Bangalore is one metro city that often tyrannizes India’s Residential real estate market. It has both the highest new launches and sales. This city has increased its new launches by almost 45 percent this year. The reasons behind this bolster are due to the blooming IT sectors, infrastructure upgrades, and its most promising business domain.

This Silicon Valley of India has hogged the housing real estate market with 16,537 unit launches. It has reached a sales peak of 18,550 units, which is the highest share of real estate supply in India for Q2, as per the reports from JLL Research.

Rahul Arora, the Senior Managing Director of JLL, stated that Whitefield in Bangalore continues to dominate the real estate market. It is driven by its business and IT sector expansion and the extension of the Namma Metro network. These factors have led the town to hold launches that contribute to 47 % for Q2.

The other sought-after areas of the city include the areas linking Whitefield to the Airport via Budigere Cross. These areas cater to new housing projects with prices ranging between ₹1 and ₹3 crore. These micro-markets have also contributed upto 57 percent of the city’s Q2 sales.

Bangalore has seen a viable sales rate. The upper and mid-class flats with pricing ₹1 to ₹3 cr has stolen 63% in the Q1 and Q2 launches of 2024. But on an H1 basis, the elite segments like posh flats with a pricing range ₹3 to ₹5 cr have the highest growth of more than 200% compared to H1 of 2023.

It shows the strong real estate market activity and healthy launches in the city. The unsold inventory has also decreased by 21% and that includes about 70,147 units by the end of H1 2024.

According to Anarock's report in April 2024, the city has a steep rise in rental housing demand, and also the average rental values have spiked. The annual income of the buyers in real estate projects has been heading high. It also states that the highest rental yield of the city is 4.45% in Q1 2024.

The city’s rental yield before Covid 2019 stood at 3.6%, which has now spiked to 24%, which is due to the strong post-pandemic rental demand. It is also led by a nourishing IT sector, futuristic structures, and raving industry habitats.

Prestige Group prelaunch apartment is Prestige Raintree Park.