The Bengaluru residential market grew remarkably in the second quarter of fiscal year 2024–25.
According to Square Yards data, 25259 residential units, including flats and plots, were registered with the Inspector General of Registration (IGR) in Bengaluru from July to September 2024.
The total amount of revenue that was made from the sale of these assets was 15,739 crore.
Bengaluru Residential Market Trends: Area & Budget Wise
As an additional point of interest, the research notes the fact that during the quarter spanning July to September, around 86% of all real estate transactions were concentrated in the price category of less than one crore.
Additionally, it was stated that the remaining transactions were in the region of Rs 1 crore and beyond, with a significant 8 percent falling within the range of Rs 1-2 crore that was mentioned.
Among the total 25,259 registrations, apartments with square footage ranging from 1,000 to 1,500 square feet accounted for the biggest percentage of transactions, accounting for 47% of the total.
According to the analysis by Square Yards, this tendency implies a continuous preference for larger living areas.
This preference is driven by the adoption of hybrid work models in the information technology and information technology services sectors, which have influenced post-pandemic housing demand in the city.
Sopan Gupta, Principal Partner at Square Yards, remarked on the trend, stating, “We have observed increased interest from homebuyers during the festive season, and as registrations typically finalize within three to six months after booking, we expect this demand to materialize in the forthcoming quarters.”
Both flats and plots still attract a lot of attention, and the northern micro-market is developing quickly.
Views on Bangalore Real Estate by Market Sources:
According to market sources, the Bengaluru residential market has defied all expectations to sustain its status as the nation’s fastest-growing market.
Micro-markets near the airport— Hebbal, Yelahanka, Devanahalli, and Jakkur—are seeing a notable increase in activity in the city.
Once a remote suburb, this increased demand for premium homes in this area reflects societal changes.
North Bengaluru is a top investment location with a solid industrial basis thanks largely to uninterrupted connectivity, economic growth, and lifestyle amenities.
The area’s exceptional location recently upgraded infrastructure, and lively commercial and residential zones help to explain the tremendous demand for its homes.
Aerospace Park, Hardware Park, and the just-finished Satellite Town Ring Road (STRR) are fast expanding close to Kempegowda International Airport.
For the aerospace and technological sectors, it serves as a hub.
North Bengaluru is already a desirable location for buyers and investors, but the abundance of new tech parks, commercial centers, hotels, schools, and infrastructural projects in the area makes it much more so.
The data presented here suggest that there is a potential to address the increasing demand for gathering locations that are comfortable, accessible, and welcoming.
The enhanced infrastructure and amenities in North Bengaluru have led to a significant number of individuals, particularly retirees, expressing interest in purchasing a property.
In general, the Bengaluru residential market is robust, and builders perceive this as an opportunity to construct homes that meet the changing needs of city residents, notably seniors, while also accommodating.