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To Buy 1 Bedroom Flats In Bangalore Or 2 Bedroom Flats In BangaloreBy Expert Author: rosss jack
Whether to look at 1, 2 bedroom flats when looking to buy a home in Bangalore will inevitably depend on the size of your budget. Prospective home buyers, who may have been thinking about buying 2 bedroom flats in Bangalore, may now have to settle for looking at 1 bed room flats in Bangalore, because against all the odds, residential property values are increasing once again and nowhere more so than in Bangalore.
The average price of a typical home in Bangalore is now 54.90 lacs onwards, following a 13% annual rise in prices, according to the latest data released by the Land Registry. This represents of in just one year literally the difference between being able to afford to buy 1 bedroom flats in Bangalore or 2 bedroom flats in Bangalore. Spare a thought for unfortunate first time property buyers hoping to step onto the property ladder. The fact that prices are generally improving is disappointing for those who hoped that the recent market slump would bring the price of buying a home to within their grasp. This is particularly the case in the capital, with the price of (1, 2 bedroom) flats in Bangalore typically greatest in demand among first-time buyers having soared across much of the city.
Property price rises have primarily been fueled by an acute shortage of houses and flats, particularly in Bangalore, in relation to growing demand. A recent Housing Market Survey revealed that there has been a rise in enquiries for homes to buy, while a post election bounce is expected as vendor activity picks up.
Greater demand for Bangalore plots for sale, flats in electronic city, flats in Whitefield, property for sale in Sarjapur road, property for sale in Whitefield, property for sale in Banerghatta road illustrates the need for more new build homes in the capital. However, there is help at hand, with house builders responding to an increase in sales enquiries, by starting to develop more new homes.
Various incentives including the recent abolishment of home information packs and an increase in the stamp duty threshold for first-time buyers from 56 lacs has further fueled demand for homes particularly for 1 bedroom flat in Bangalore and 2 bedroom flats in Bangalore. This is because many properties in this size category now fall under the stamp duty threshold for first-time buyers saving them up to some per cent of the purchase price.
The current growth in the Bangalore property market is expected to stabilize in the middle parts of the year and then regaining pace again towards the end of the year. This is all good and well for the Bangalore market, however there are still serious concerns about the rest of the country's property as there is not much growth showing in other parts of India. Let us hope the Bangalore property industry is able to carry the weight of the entire country.
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