CREDAI Expo is back

In the last quarter of the financial year, things have never looked better for realty. We are at a phase in the real estate world, when we can safely bid goodbye to the woes of the earlier months. At one time, Bengaluru held the distinction of surpassing even Mumbai in terms of excessive residential inventory. This figure is gradually dropping and making way for a much vibrant market right now.

There are several reasons for this — Beginning with the number of novel repayment schemes that builders have come up with. This, along with the 50 basis points cut by the RBI has brought down interest rates, making homes more affordable.

There is no right or wrong time for a prospective home owner to purchase a home. If it is the need of the hour, you will look for a home that best addresses all your needs. However, it is a buyer’s market right now. Considering the fact that commercial real estate absorption is at an all-time high since 2011. In fact, Bengaluru right now has only a 5 to 10 per cent vacancy, which means builders will now have to gear up to increase supply.
This means that residential realty will also be on the increase, considering the number of people coming into the city to make a living. The focus of builders is currently on mid-range homes in the Rs 50 to 75 lakh category. In fact, several builders are also considering changing configurations of homes, converting, two-BHK into one-BHK, which is the current demand.

Another factor for residential realty looking up is if the recommendations of the seventh pay commission come into effect. The recommendations proposes a 23.6 per cent hike in salary for state as well as central government employees. This will instantly see an increase in residential real estate purchases.

For all prospective home owners coming into the market right now, what is important to note is that the investment be worthwhile in the years to come. Every place evaluated, must include a projection on appreciation of rates. The potential of the rental market for the home should also be taken into consideration.

Currently in Bengaluru, Whitefield, with its penchant for IT development is a good area to invest in. On similar lines, you have the Electronic City as well as the ORR stretch of Bellandur, Marathahalli and KR Puram that is doing well. North Bengaluru, particularly considering the new development taking place in the wake of the growth of area post the International Airport.

Helping the people of Bengaluru make a better and well informed decision is the CREDAI Realty Expo that is set to happen on February 6 and 7 at the Park Plaza Hotel and then again on February 13 and 14 at the Lalit Ashok. Spread over two weekends, the event will have CREDAI-only members showcasing a range of projects. A few banking organisations will also be part of the Expo.

Taking place over two weekends, this Expo ensures that the general public may leisurely visit these Expos and explore options. Each of the Expos will showcase properties in a large radius around the venue allowing the potential buyer to remain within the comfort zone of his current location in order to explore a range of properties. Over the years, these Expos have seen footfalls in the thousands ensuring that they are a stupendous each time.

Each of these exhibitions will open to the public from 10.00 AM to 8.00 PM on both days. There are several new projects that will be showcased at these events, besides those that are now available for occupation. Several, substantial discounts will also be on offer.
Besides acquiring information on selected projects on offer at the exhibition, participating builders will also offer information on projects under their umbrella, present all across the City. The Expo promises to be of great value to potential home buyers is expecting thousands of footfalls over the two weekends.