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Bengaluru’s real estate sector has never disappointed its stakeholders, be it homebuyers, investors or developers. It is, therefore, not surprising that the city has been earning well deserved titles of being the ‘fastest-growing tech hub in the world’ (London & Partners) and ‘the fastest growing city in the world till 2035’ (according to the Bengaluru Innovation Report 2019). Industry experts now predict that Bengaluru, which is India’s most millennial-friendly city, is poised for further real estate growth this year too.
Budget 2021 backdrop
There was a lot of expectation from the Union budget. On the face of it, it appears that the budget does not offer significant incentives for the real estate sector. However, a close analysis suggests that the government continues to focus on affordable housing by extending income tax benefits to both the demand and supply side since this is the most underserved segment in housing, presenting an opportunity for developers. Hence, we expect this year’s budget to have a steady and meaningful impact on the real estate sector’s fortunes over the next two years states a Colliers report https://www2.colliers.com/en-in/research/indias-2021-budget
Luxury market revival
An Anarock report mentions that Q4 2020 recorded strong growth in the residential segment – heralding housing market revival in 2021. Mid-segment new supply – priced INR 40 lakh to INR 80 lakh – rose 39% in Q4 2020 against the same period in 2019, while the supply of affordable housing reduced by 39%. Many prospective home buyers are preferring to now shift to self-sustained gated communities where their entire family’s needs are sufficiently met. Mostly, these self-sustainable housing societies offer companionship, safe and secure environment, while providing amenities that reduce the need to venture out. Luxury residences from HM Constructions https://hmconstructions.com/ at HM Indigo https://hmconstructions.com/index.php/projects/details/hm-indigo HM Grandeur https://hmconstructions.com/index.php/projects/details/hm-grandeur HM Tropical Tree, https://hmconstructions.com/index.php/projects/details/hm-tropical-tree, HM Symphony and others offer its proud homeowners a lifetime of perfect living amidst secure environs.
Change in millennial profile
If you recall news reports stating that the new-age millennial is choosing to rent a home than purchase one. This has gradually changed in the wake of the pandemic with safety and health the major priority. Presently, the millennial population in Bengaluru, which constitutes about 37% of the city’s population, is veering towards entrepreneurship and the gig economy. With the government extending many more incentives to the startup sector, this large chunk is expected to do brisk business and make profits. This is the potential target group that holds the key to a home purchase, with home loan interest rates still at its lowest and low stamp duty fee.
Also, developers will continue to fuel demand with offers and schemes even beyond the festive season in 2021. Likewise, home loan interest rates will not harden anytime soon as it is quite clear that increasing interest rates would impact overall demand at a time when the government is keen to boost consumption. Therefore, ANAROCK expects housing demand to continue going forward as homeownership has gained top priority for even the new-age millennials who previously shied away from it.
Preference for the peripheries
The pandemic threw up several surprises including the choice of prospective homebuyers. With work-from-home, a viable option today, many future homebuyers may shift to the peripheral areas for bigger homes and a better lifestyle – at more affordable prices. Thus, the previous ‘gold standard’ of Indian housing – the walk-to-work / short drive to work, by definition only in and around central corporate workplace hubs – may thus shed much of its popularity for several prospective homebuyers. This brings into focus the prominent peripheral locations such as Kanakapura Road, Sarjapur Road, Jakkur, Electronics City, etc.
Bengaluru’s golden run continues in the housing market of 2021 as the most preferred destination to make a home in.
HM Showers Offers on Prospective Home Buyers
As established here, it only makes sense to invest in an apartment as soon as possible. We, at HM, understand that the pandemic may have impacted the businesses and jobs of our prospective clients. Thus, we have announced a brand new home-buying scheme for the last 30-odd apartments at HM Indigo so that you no longer have to delay owning your dream home!
The unique scheme lets you book any of our spacious units of your choice at a token amount of Rs.10,000 only. Since the units are ready-to-move, you can finish up the formalities and move into an apartment of your own in just 10 days. What’s more, once you move in, you can let HM take the burden of your EMIs! The EMI Holiday Facility lets you postpone your EMIs by 10 months so that you may enjoy your stay at HM Indigo for nearly a year before you start paying the EMIs.
So, stop worrying about your monthly rental and book an HM Indigo apartment today.
Call us at 8880225555 for a home tour, today.