Bindu Promoters and Developers- News updates

In comparison, property sales in the bigger markets of Mumbai Metropolitan Region and National Capital region fell by 60% and 57%, at 15.98 mn sq ft and 28.86 mn sq ft respectively. The trend continued into the second quarter.
   Experts say Bangalore's real estate market is growing due to a combination of factors such as a greater percentage of end users among buyers than in the other cities and a relatively moderate rice escalation.
    In 2011-12, the southern cities including Bangalore contributed nearly 40% to the country's home loan disbursals of Rs 1.95 lakh crore. Since April, LIC Housing Finance  garnered around 14.5% of the total home loan business from the Bangalore region, compared with 12% in the corresponding period last year.
    Delhi-NCR and Mumbai witnessed a sharp drop of over 40% in property sales in 2012, compared with the previous year, mainly due to multiple increases in home loan rates and inflatedproperty prices. The southern cities, including Bangalore, did not see such a sharp downturn partly due to the turnaround in the IT sector.
    As per the Confederation of Real Estate Association of India  (CREDAI), fewer projects approval in the Mumbai and Delhi regions also contributed to the more benign fall in sales in Bangalore. New launches in these two bigger markets fell by 50% and 57% respectively.
   While prices in Mumbai and Delhi crossed the peak levels of 2007, the builders in Bangalore did not increase prices by as much, contributing to a healthy offtake.

    Further, new launches in south India including Bangalore are still primarily in the Rs 4,000 per sq ft range compared with many parts of the NCR and Mumbai, where the range is Rs 7,000-10,000 per sq ft range.