Residential households in Bangalore to continue to grow at 4% – 6% : ICRA
Further, the area launched by major developers in FY2012 and current financial year in Bangalore is 3 to 4 times of the area sold by them in FY2012. The significant increase in supply of residential space in absence of commensurate rise in absorption rates may result in an oversupply situation in the city, ICRA said in its report on Bangalore’s real estate market.
ICRA says that City’s development will get major infrastructure boost from its ongoing and planned infrastructure project such as Metro Rail (Phase I & II), Signal Free Outer Ring Road, Peripheral Ring Road, Bangalore Mysore Infrastructure Corridor, BMRDA’s Satellite Townships & Ring Road Network, Expressway to Bangalore International Airport (BIA) and High Speed Rail to BIA and Mono Rail. These projects will provide the much needed support to Bangalore’s growing population base and with the enhance connectivity will also open-up newer surrounding areas for development. However, the issue related to the depletion of water table will remain a concern until a long-term solution is worked out soon by the competent authorities.
http://economictimes.indiatimes.com/markets/real-estate/news/residential-households-in-bangalore-to-continue-to-grow-at-4–6-icra/articleshow/18865847.cms
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