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Property Prices Level Off in Bangalore
Thursday, June 07, 2007

Property buyers in Bangalore can breathe easy as homes become more affordable in the city - real estate agents report a softening of prices as a large number of independent bungalows are giving way to compact premium apartment complexes.

Property prices in Bangalore peaked in 2006, leading to the sprouting of new residential projects in Sarjapur Road, Hosur Road, Bannerghatta Road, Bellary Road, Doddaballapur Road and Hoskote.

The apartment and villa complexes under construction would take care of the demand for the next 8 to 12 months in the city The last 6 months have seen an appreciation of prices by a modest 5%, though the new neighbourhoods fringing the city registered a 10% hike.

Investors have been shying away from real estate Bangalore following high quotes from builders and unaffordable interest rates.

The glut of properties - 2,500 villas in Whitefield-Sarjapur and another 1, 40,000 to be completed by 2009, will help stabilize prices in these suburbs.

Related Readings

»Bangalore Real Estate faces Slowdown.....?
»Mega-Township Projects in Gurgaon, Bangalore

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