The city continues to be a popular destination for those wishing to settle down. Bangalore recorded the highest number of residential units set up this year, according to a report by Cushman and Wakefield, despite cities like Ahmedabad, Chennai, New Delhi, Pune and Hyderabad recording a sharp decline in the number of units set up during the year.
The increase in the number of units set up in the city is phenomenal. Of the 1,72,500 houses set up across the eight major cities, 49,279 houses were set up in Bangalore alone, a 15 per cent increase from 2012, during which 42,899 residential units were set up. The other cities which saw an increase are Kolkata (7,604 units, 3 per cent increase) and Mumbai (28,990 units, 6 per cent increase).
Areas in the city also recorded high appreciation in capital values. Bangalore Central, including Lavelle Road, Off Palace Road, Off Cunningham Road, Ulsoor Road, Richmond Road and Racecourse Road, had the highest appreciation at 50 per cent. Off central areas like Vasanth Nagar, Richmond Town and Indiranagar recorded an appreciation of 36 per cent, all for mid-end properties.
According to the report, Bangalore Eastern and Southern sub-markets witnessed the highest number of launches, accounting for approximately 43 per cent and 27 per cent of the total launches respectively.