How will Bengaluru real estate look like in 2016?

Bengaluru, the IT hub of India, has been the fastest growing city in the country. Every year the city witnesses several thousands of people moving into the city in the search of work opportunities.

The established social infrastructure, burgeoning job opportunities and most importantly the promising residential and commercial developments promise a qualitative lifestyle to its residents.

Are these reasons good enough to push the real estate market of Bangalore in 2016? How will the real estate market likely to perform this year? Will 2016 be any different than the previous years? Will buyers shed their inhibitions and start investing in the property market?

To answer these questions and several more, Magicbricks invited Pratik Mehta, managing director, Unishire for a Hangout session on January 13.

Article Source : http://content.magicbricks.com/industry-news/bangalore-real-estate-news/how-will-bengaluru-real-estate-look-like-in-2016/84170.html

Snapdeal Launches Real Estate Shopping Festival

NEW DELHI: Online marketplace Snapdeal today launched a week-long real estate shopping festival offering properties in a price range of Rs 20 lakh to Rs 5 crore.

The shopping carnival called 'Freedom from Rent', to be held during January 14-20, will feature special project launches and exclusive offers from builders like TVS Emerald, Provident Housing, Runwal Group, Atul enterprises, Lavasa, Central Park, Ajanara Homes, Mahagun India and Gulshan Homz.

Read More at : http://economictimes.indiatimes.com/industry/services/retail/snapdeal-launches-real-estate-shopping-festival/articleshow/50575250.cms

House panel confirms lake encroachment by BDA

The finding of the legislature committee probing encroachment of lakes in Bengaluru has confirmed the worst fears of about 17,000 aspirants who had applied for a site in Nadaprabhu Kempegowda Layout. During a survey, the committee found that roads developed in the layout are certainly on the lakebed.

"We have included it in our list of 11,000 encroachers we released recently,'' said panel head and Congress MLA KB Koliwad.

An ex-parte National Green Tribunal (NGT) granted interim stay on further development of the layout on a petition from Dase Gowda. But BDA is confident the stay will be vacated after it submits the environmental clearance certificate. The last date for submission of applications seeking site allotment is January 18 but the stay may push it to a later date, sources said.

The aspirants are seething in anger. "How can they (BDA) invite applications for sites without getting environmental clearance,'' asked an angry aspirant.

Article Source : http://content.magicbricks.com/industry-news/bangalore-real-estate-news/house-panel-confirms-lake-encroachment-by-bda/84228.html

Investing in Bangalore? Know the Market Performance

Despite the severe hit on the real estate sector last year, Bengaluru market had several nuances of positivity flowing into it. The market had to make certain adjustments and attune to the demands of buyers. The year ended on a good note with claims of a better 2016 year ahead.

Raja Mukherjee, MD, Concorde Group was invited to participate in a Hangout session conducted by Magicbricks where he shared his views with consumers and answered their queries.

According to Mukherjee, the city’s real estate market in the year 2015 was flooded with luxury and premium properties which had very few takers. The disjuncture was that buyers who were keen on purchasing a property belonged to the mid segment and the market comparatively offered very few of these.

“To balance the prevalent demand and supply existing in the market, the developer community had to narrow down their new launches,” says Mukherjee.

The imbalance was corrected over a period of time before the year ended. Another factor that added the positivity dollop to the realty sector was the emergence of the social infrastructure in areas which were initially not considered a priority market even a couple of months ago such as Hennur in North Bengaluru.

Article Source : http://content.magicbricks.com/industry-news/bangalore-real-estate-news/investing-in-bangalore-know-the-market-performance/84232.html