Despite the COVID-19 pandemic, the residential real estate market is expanding, with homes selling like hotcakes. The residential sector in top Indian cities has remained overly positive, making it an excellent investment choice. The high-end demand for residential real estate in India's leading cities has risen in tandem with the COVID-19-induced pandemic, as the pandemic and successive lockdowns have caused an intense desire among homebuyers to own a house. Furthermore, the pandemic has served as a reminder that one's home is the safest place to be during difficult times. The research also concluded that all the leading real estate markets witnessed increased capital values for residential properties due to the surging demand among homebuyers. Despite the pandemic's demands, the residential real estate sector recovered in 2021. The pandemic's disruption is gradually fading. The real estate market is likely to resume its normal rhythm in the next two to three quarters, assuming that the new variant's dangers appropriately contained minimal disruption early in the New Year. As a result, in 2022, the residential segment is predicted to see a 5% increase in capital value.
The Year 2022 started positively on a high note for the real estate industry as significant excitement has been witnessed on both sides of builders and buyers. The COVID-19 pandemic recovery is enhancing buyers' daily affordability as their finances recover. Apart from this, the industry will continue to benefit from a regime of low interest rates, along with the infrastructural initiative taken by the Indian government. In the year 2022, potential homebuyers will continue to prefer bigger homes, better amenities, an excellent location, and comprehensive lifestyle environs. Also, as the work from home is going less on track and a majority of the workforce returns to offices, it will positively affect the demand for residential projects. We can see that 2022 is the year of residential real estate, dominated by potential homebuyers who are investing in real estate more than ever. The residential real estate market predicted to pick up steam in 2022. With end-user solid demand and favorable market conditions, the average quarterly sales volume will reach 35,926 units in 2022. Bangalore is quickly becoming one of the most popular places for prospective homeowners to invest in real estate. It is owing to its reputation for having the shortest delivery times. Among all Indian cities, Bangalore had the fewest unsold units. Moreover, despite the epidemic, Bangalore recorded a 2% increase in average property prices and a 2% increase in unsold properties. A minor price increase is projected in some residential micro-markets due to growing demand momentum, limited inventory in select segments, and rising input costs.
The following are the significant developments that will likely shape the residential sector in 2022:
Many good factors are influencing the real estate market in Bangalore in the wake of the debacle sparked by the COVID-19 pandemic. In line with this, low home loan interest rates encourage real estate builders to offer various choices at an attractive price. Further, government-backed subsidy programs are also catalyzing homebuyers' enthusiasm. Low-interest rates, hybrid work mode, pandemic-led realization of the need for one's own home as a primary life goal, affordable pricing, and supportive government policies will continue to propel the sales momentum in the residential real estate markets. Well, mortgage rates are the lowest and have played a significant role in helping home buyers to convert their demand into actual buying. The real estate industry brings vast advantages and opportunities such as stability, future security, assured returns, etc., and at present, attracts homeowners who are planning for a secured future and modern living. Hence, the real estate sector has become buyers' and investors' preferred investment choice. As per a real estate research report, the real estate sector is set to experience an approx. 5% capital value growth in the residential area in the year 2022. This can also be witnessed with the steady recovery and momentum in quarter 1 of the financial year 2022. In 2022, the Prestige Group will continue to dominate the residential sector, gaining an even more outstanding market share. In 2022, housing sales and residential launches will either be slightly lower than pre-Covid-19 levels or will even return to pre-pandemic levels of 2019. The end-users will continue to drive the market, and the city's outskirts will remain active in terms of residential activity – both supply and demand.
Being a harbor to start-up companies and organizations, Bangalore has an incoming of many professionals from almost every industry sector, indicating only a rise in real estate avenues. The Indian real estate market shows that Bangalore will likely experience good property appreciation, making real estate a safe asset to invest money in. If you are in a dilemma about finding the right location for your dream home, let's have a look at some of the best areas in Bangalore. Whitefield offers many investment opportunities to big players and even those with a lid on their budgets. Well, that's right. The availability of substantial undeveloped lands made way for upcoming projects for luxurious yet affordable homes. Therefore, buying a plot here could bring you a lot of return on investment. Whitefield is one of the hotspot real-estate zones of Bangalore with excellent infrastructural frameworks. The area has immediate accessibility to famous educational academies, employment parks, and shopping complexes. The site hosts Business hubs, such as IPTL and EPIP zone. With closest proximities to leading MNCs like iGATE, TESCO, and SAP, the area is an ideal destination to reside in. The Karnataka government made a wise strategic decision by lowering stamp duty. For homebuyers, the reduction in property stamp duty from 5% to 2% for houses priced between Rs. 20 lakh and Rs. 35 lakh, and from 3–5% for properties priced between Rs. 21–35 lakh was a blessing in disguise. People will be encouraged to invest in real estate due to this reduction. The benefit of obtaining up to Rs. 60,000 off on an Rs. Twenty lakh flats will also help buyers throughout the real estate market's recovery and pool resources to support uplift the market.
Bangalore's real estate sector is the quickest to react to changing market conditions as it is located in India's Silicon Valley. It aggressively focused on developing digital techniques to improve customer experiences, such as using virtual reality and 3D modeling for virtual tours and site visits. Virtual conferencing for client meetings, digitizing documentation, and accepting online payments are just a few of the reasons Bangalore's real estate sector could stay afloat and recover even if the pandemic strikes.
The city's upcoming features determine the value of a property's appreciation. For example, vital infrastructure and easy connectivity are essential advantages for property investment in Bangalore. Bangalore's proposed Outer Ring Road and metro expansion will improve intra-city transport accessibility and significantly boost real estate investment.
Bangalore's well-thought-out and concrete plan to mitigate the pandemic's impact on the city's real estate market has undoubtedly brought up new development opportunities. Bangalore's real estate market has continuously improved without sacrificing prospects for homebuyers to purchase their dream residences. The city has certainly sailed successfully through the pandemic from the perspective of a scalable graph, which provides prospective buyers with high confidence in their investments and optimism about achieving a reasonable profit.
Prestige Serenity Shores is ideally situated in the lush locales of East Bangalore in Gunjur of Varthur Hobli, connecting Whitefield and Sarjapur Main Road. The project overlooks the famous Varthur Lake forming a splendid view from all the indwelling units. The elegant project is close to excellent shopping forums, employment Parks, industrial catchments, educational centers, and medical facilities. The Export Promotion Industrial Park (EPIP) Zone and International Tech Park Bangalore (ITPB), housing many IT and ITES, are situated near the project location.
Prestige Serenity Shores is located in Whitefield, which is the most preferred choice of residents among home buyers. Good employment zones and IT hubs, good schools and colleges and presence of hospitals are some of the highlights of the area. Infrastructure is also in fast development. This project is definitely a great buy.
Prestige Green Gables, is a RERA approved project from the Prestige Construction group. This apartment project is among the best residential projects in Bangalore in the year 2022. There are a total of 406 apartment units in the complex. The total area is 5 acres. Three types of homes are available, they are: two-bedroom, two bedrooms with study and three-bedroom configurations. The smallest unit has an area of 650 square feet and the largest unit has an area of 1600 square feet. The project promises a variety of amenities of premium quality. Some of them are gymnasium, swimming pool, yoga lounge, club house, mini theatre, jogging track and games rooms. Best in class security is the norm in the complex.
Prestige Green Gables is located in the Panathur area in Kadubeesanahalli in Bangalore. The advantage of location is visible in the fast-paced infrastructure development. The zone is known for the IT and technology zones and SEZs. Access to schools and colleges is a big plus. There is the presence of many high-quality healthcare facilities in the area. Prestige Green Gables is definitely one of the best residential projects for a modern home buyer to choose from in Bangalore in 2022.
The Prestige City is a multi-project township offered by the brand of Prestige Construction Group. A host of options in terms of choice of a home is on the offer in this well-planned township. Home buyers can choose from small and large apartments, premium type of apartment, villas and also residence plots. The township is under development and would be available for possession by May 2025 onwards. There are in total, 808 plots, 149 villas and 3000 apartments within the township. The unit with the smallest dimension measures 650 square feet, and the largest one measures 2200 square feet. Buyers can choose from one-, two-, three- and four-bedroom options among the many choices. The township includes many high-quality amenities. Security is of primary importance with CCTV monitoring and video door phones on offer in all units. The premium range of amenities are swimming pool, gym, children’s play area, party area, club house, mini theater, games both indoor and outdoor and many more.
The Prestige City township is located in the Sarjapur area, a suitable choice preferred by the modern home owners. Known for the work zones, presence of international schools, good road connectivity, public transport and more, the location is at a big advantage. This project too has been listed as one among the best residential projects in Bangalore in the year 2022.
Among one of the best residential projects of Bangalore in the year 2022, Prestige Meridian Park stands out in the apartment space. It resides within the Prestige City Township. There are five high rise towers consisting of super luxury apartment units. Three-bedroom and three bedrooms with a study are the options available to choose. The units come with large windows and balconies, good lighting and ventilation. There are several landscaped gardens in the campus, making it a close connection to nature. The builder has ensured a lot of open spaces in the design of the project. There are many amenities to keep the residents comfortable and entertained. They range from sports and games, indoor and outdoor, children’s play area, elder’s zone, fitness club, gym and swimming pool. There are a total of 930 units, with sizes ranging from 1387 to 1865 square feet. As Prestige Meridian Park is located within the Prestige City township, the campus is self-sufficient with a well-structured ecosystem.
In terms of location, the project is at Sarjapur Road, which is in very high demand in the present day, thanks to the infrastructure, connectivity and access to offices, schools and colleges. Those seeking a luxury apartment from a well-known builder need look no further.
Yet another of the best residential projects in Bangalore in the year 2022 is none other than Prestige Primrose Hills. This project is an apartment complex comprising 15 towers. The project is executed over 15 acres of land. The builder is offering one- and two-bedroom configurations in this project. Prestige Primrose Hills is a budget project, for buyers looking for smaller homes, but from a reputed builder. The unit sizes range from 572 square feet to 985 square feet. There are in total 1680 units. With top quality construction from builders of the likes of Prestige Construction Group, this is an ideal choice for property owners. Amenities like swimming pool, gym, skating rink, basketball court, cricket pitch, amphitheater, club house, indoor games and party hall are standard offerings from the builder. The project is RERA approved and possessions would start from 2024 onwards.
Prestige Primrose Hills is located in Banashankari, in the South zone of Bangalore. Banashankari is a great choice for citizens who prefer the residential and old Bangalore charm of the zone. The area is well-developed and well connected to other parts of Bangalore. Metro rail is also functional in this zone, making commuting easy and very convenient.
For the home buyer seeking more variety and wants to choose from the Best Residential Projects in Bangalore in 2022, Prestige Jindal City is the perfect choice. The project is almost complete with Phase 1 delivery started in October 2021 and Phase 2 delivery starting from October 2022. The total land area for the project is 32 acres. There are 3571 units in all. Buyers can choose from one-, two-, three- and four-bedroom options. There are fifteen towers and each with a G+29 floor configuration. The project is offered as a luxury apartment from the brand name of Prestige Constructions. There is ample landscaping done around the zone, making it very inviting for the residents. Quality of construction and timely delivery are the USP of the builder. Also on offer are a variety of amenities for the residents to enjoy. Some of the amenities are swimming pool, gym, play area, club house, beautiful landscaping, party hall and games. Security is of prime importance and is well taken care of in the project.
Prestige Jindal City is located off Tumkur Road, which is one of the upcoming choices of residence among home buyers. Good connectivity and infrastructure are the highlights of the locality.
Home buyers seeking futuristic homes in Bangalore need look no further from Prestige Waterford. This project with apartments that are styled aimed at the future is for someone who wants the best. Surely, Prestige Waterford figures among the best residential projects in Bangalore in the year 2022. The project has 7 towers on 16 acres of land. There are 689 units of luxury apartments in total. Options are available for three bedroom and four-bedroom units. 85% of the land is open space, meaning the residents can enjoy fresh air and openness throughout. Possessions begin in December 2023. Prices start from Rs. 1.42 crores onwards. Unit sizes range from 1775 square feet to 2525 square feet. Each tower has a G+24 floor configuration. Top class amenities are standard in this beautiful apartment from the house of Prestige.
Situated in the IT corridor of Whitefield in East Bangalore, this project has many advantages. With all basic and essential infrastructure requirements in place, it is definitely a top buy from a reputed builder brand.
Yet another project from the Prestige group of constructions which has made it to the list of best residential projects in Bangalore in the year 2022, is none other than Prestige Finsbury Park. This is a township on a land area of 25 acres. There are two sub-zones in the township: Prestige Finsbury Park Regent and Prestige Finsbury Park Hyde. Regent offers a total of 958 three-bedroom luxury apartments. There are six towers each with 20 floors in Regent. Hyde offers 2092 units of one bedroom and two-bedroom apartments in the luxury segment. There are 12 towers in total, with 20 floors each. Both sub zones would have their own facilities and amenities. As in all major projects from Prestige, this project too is RERA approved. Unit sizes vary from 636 square feet to 1562 square feet. Possessions are expected to begin from June 2023.
The township is located at Bagalur Road in the north zone of Bangalore. The IT corridor is the nearest neighbor, which ensures lower commute times. The healthcare and school facilities are among the best. The presence of the beautiful Hebbal lake and Nagawara lake add to the charm of the locale.
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