Property Trends in the Bangalore Real Estate Market 2021


Property Trends in the Bangalore Real Estate Market 2021


The COVID-19 pandemic brought to the fore the importance of home ownership. Now as the fears of the pandemic have begun to recede, the real estate market in Bangalore is expected to see a renewed vigour in 2021 and new launches of residential projects are expected to increase in keeping with buyers’ interest in investing in property. Sales are expected to drastically recover. Watching the sales of the third quarter of 2020, it does certainly seem as though the real estate market in Bangalore is set to bounce back in Bangalore. The Karnataka Stamps Bill 2020 that proposes a reduction in stamp duty from 5% to 2% for flats which are priced under Rs. 20 lakh will further boost sales in real estate in the city. With offers of move in now and pay later being offered by builders, there is a buyer interest in homes that are ready to move in. There is more interest in purchasing mid-segment properties of 2.5 BHK to 3 BHK in a price bracket of Rs. 1 crore. In terms of localities of Bangalore, there were a majority of launches in the last quarter in East Bangalore (37%), which was followed by South Bangalore (33%). While the trend in Bangalore till date was that buyers of real estate chose to live close to their work spaces, this trend seems to be on the wane in the recent past, with there being an increasing demand for plotted developments and gated communities that lie on the outskirts of the city. Also, while previously localities such as HSR layout, Whitefield, and Marathahalli were in demand as areas of residence, the trends in May 2020 have shown increasing interest in Horamavu, RT Nagar, Yelanhanka, and Hebbal. There is growing interest in integrated townships and low-density areas, fuelled by the need for social distancing in the age of the pandemic.

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