Bengaluru most preferred residential market in 2015: Study

Kolkata, Aug 10 (IANS) Fuelled by a marginal increase in housing demand, Bengaluru has emerged as the most preferred residential market with almost 27 percent share in new housing projects in January-June 2015, a study said on Monday.

Delhi National Capital Region and Mumbai follow suit with a share of about 20 percent each, as per ‘India Residential Market View – H1 2015’ from commercial real estate services (CBRE) India.

Chennai and Hyderabad saw a rise in new project launches, while Delhi NCR and Mumbai saw a dip in the same due to already existing housing inventory and project delays.

The study said that while Chennai and Bangalore saw positive demand for real estate in the residential sector, accounting for more than 45 percent of the total housing sales across leading cities, the Delhi NCR region saw a steep decline.

Mumbai and Hyderabad, meanwhile, noted a slight drop in home buyer interest levels during the first half of the year.

The finding said housing sales and new project launches across India during January-June this year saw a marginal dip of three percent as home buyer demand declined marginally by around two percent compared to the July-December period last year.

Cautious buyer sentiment, high mortgage rates and significant unsold inventory in primary as well as secondary markets were said to be the primary reasons for the dip.

In the period under consideration, mostly new housing projects were launched in the high-mid end segments in and around the fringes of major cities.

Home prices remained largely stable in premium and high-mid end segments in Mumbai, Chennai and Kolkata in the first six months of the current year while Bengaluru saw a rise in prices due to a marginal increase in housing demand.

The finding said west Hyderabad and Pune too witnessed price increase in the range of 2-6 percent due to healthy demand.

“The ‘housing for all’ initiative, along with revival of major urban infrastructure projects and removal of impediments to land acquisition, can in unison reap rich dividends for the sector in the long term”, Anshuman Magazine, chairman and managing director of CBRE South Asia Pvt. Ltd., said in a statement.

Leave a Reply

Please enter your comment!

The opinions, views, and thoughts expressed by the readers and those providing comments are theirs alone and do not reflect the opinions of or any employee thereof. is not responsible for the accuracy of any of the information supplied by the readers. Responsibility for the content of comments belongs to the commenter alone.  

We request the readers to refrain from posting defamatory, inflammatory comments and not indulge in personal attacks. However, it is obligatory on the part of to provide the IP address and other details of senders of such comments to the concerned authorities upon their request.

Hence we request all our readers to help us to delete comments that do not follow these guidelines by informing us at Lets work together to keep the comments clean and worthful, thereby make a difference in the community.

Please enter your name here