Ben­galuru real-es­tate a good bet

ravin­dra Pai, man­ag­ing Di­rec­tor, cen­tury real es­tate gives his views on the real-es­tate mar­ket of Ben­galuru and the over­all re­alty sec­tor of the South.

Realty Plus - - Contents -

Cen­tury Real Es­tate head­quar­tered in Ben­galuru, In­dia was founded by Dr. P. Dayananda Pai and Mr. P. Satish Pai in the year 1973. Ravin­dra Pai joined the com­pany as the Man­ag­ing Di­rec­tor in 2003. Un­der a new gen­er­a­tion of lead­er­ship, the com­pany built on its in­de­pen­dent de­vel­op­ment port­fo­lio while at the same time con­tin­u­ing to be in­volved in mul­ti­ple joint de­vel­op­ment projects with lead­ing de­vel­op­ers.

ben­galuru Res­i­den­tial Realestate Mar­ket

Re­alty sec­tor in In­dia has re­cently gone through a trans­for­ma­tion, but for the bet­ter. Even though RERA &GST have raised many ques­tions and put peo­ple in a con­fused state, Ben­galuru seems to have had less of an im­pact, mainly be­cause of a more sta­ble real-es­tate mar­ket the city is known for, com­pared to other cities. In a way, res­i­den­tial re­alty sales are driven by ab­sorp­tion of of­fice spa­ces. Also, the pro­fes­sion­al­ism demon­strated by prop­erty de­vel­op­ers in Ben­galuru has been seen as a more re­li­able bet by in­vestors

and con­sumers alike. Ben­galuru’s per­fect weather all through the year beckons work­ing pro­fes­sion­als and pop­u­la­tion across In­dia, wish­ing to set­tle down in the gar­den city. And, this surge is a trend that has not changed for long and is here to stay. Cle­ment weather and lower vul­ner­a­bil­ity to nat­u­ral calami­ties are ad­di­tional pos­i­tives for in­di­vid­u­als and fam­i­lies con­sid­er­ing buy­ing or in­vest­ing in homes in Ben­galuru. Also, Ben­galuru of­fers an en­tire range of ul­tra-lux­u­ri­ous homes, lux­ury vil­las, plot­ted de­vel­op­ment, apart­ments and af­ford­able flats with greater con­nec­tiv­ity. Af­ford­able hous­ing is the norm of the day and this has seen a sur­pris­ing rise in de­mand and con­sump­tion. the emerg­ing MI­CRO Mar­kets across Kar­nataka A ram­pant change across the mi­cro mar­kets is in­di­cated. Mysore, Dhar­wad, Raichur, Shi­moga, Hubli, Bel­gaum, Gul­barga &Bel­lary are swiftly-pro­gress­ing ur­ban ar­eas of Kar­nataka. This can sig­nif­i­cantly trans­form the real-es­tate land­scape of the state and show great prom­ise is terms of de­vel­op­ment. Aro­bust in­fra­struc­ture has beena pos­i­tive fac­tor in shap­ing the re­alty land­scape across mi­cro mar­kets of Kar­nataka.

No doubt the most pre­dom­i­nant driver is the in­dus­trial growth with IT be­ing the most dom­i­nant and strong driver of the real es­tate mar­ket, fol­lowed by biotech­nol­ogy. It is a known fact that Tamil Nadu, Andhra Pradesh, Kar­nataka and Ker­ala broadly con­sti­tute to over 21% of the pop­u­la­tion of In­dia, with these states steadily turn­ing vig­or­ous cen­ters for the ser­vice in­dus­try, with a stronger fo­cus on the man­u­fac­tur­ing sec­tor for in­dus­tries like au­to­mo­biles &tex­tiles. One of the key fac­tors con­sis­tently driv­ing the real es­tate mar­ket is the over­all health of the econ­omy, mea­sured by in­di­ca­tors like GDP, man­u­fac­tur­ing ac­tiv­ity, em­ploy­ment data etc. Cen­tury Real Es­tate has plans to launch 4-5 res­i­den­tial projects shortly as also ma­jorly fo­cus on com­mer­cial de­vel­op­ment. res­i­den­tial projects will con­sist of plot­ted de­vel­op­ments, bud­get homes, lux­ury & high end apart­ments.

We be­lieve, like us, ev­ery­one is now in clar­ity-seek­ing mode for RERA. We have com­pleted fil­ing

reg­is­tra­tion for all our projects and re­ceived con­fir­ma­tion for most of them as well. how­ever, we see a lot of pos­i­tive vibes around the RERA act and it’s just the teething prob­lem which is pre­vail­ing in the sec­tor as of now. the growth Driv­ers Of the Real-es­tate Mar­ket in south

ravin­dra PAI

Newspapers in English

Newspapers from India

© PressReader. All rights reserved.