This Diwali, Bengaluru homebuyers can look forward to several new real estate project launches as developers prioritize strategic offerings over traditional festive discounts. Unlike previous years, when discounts, gold coins, and flexible payment plans were common, strong sales in 2023 and 2024 have led developers to focus on project launches, with less need to clear inventory through offers.
ANAROCK Research reports a 6% decrease in Bengaluru’s unsold inventory from Q3 2023 to Q3 2024, with available units now at approximately 46,315. By comparison, cities like Delhi-NCR and Mumbai have higher unsold inventories, reflecting Bengaluru's healthier market conditions. Developers such as Sattva Group and Concorde are preparing high-profile launches. Sattva, for instance, is introducing a 20-acre plotted development in Devanahalli and a luxury project in JP Nagar, following recent launches such as Sattva Songbird and Sattva Lumina, both strategically located near growing infrastructure hubs.
Concorde Group, targeting mid- to high-end buyers, plans three project launches priced between ₹80 lakh and ₹2.5 crore, focusing on high-demand micro-markets. Some developers are also exploring innovative rental schemes. BCD Group, for example, is offering pre-tenanting options with 2-3 year leases for a new project, giving buyers immediate rental income post-purchase.
Bengaluru’s real estate market has performed strongly, driven by sustained demand from its thriving IT sector and continuous infrastructure upgrades. With high demand expected to continue, the city’s inventory levels are likely to drop further, indicating a positive outlook for both developers and homebuyers through the final quarter of 2024.
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