Luxury living within city limits is offered in Bangalore - News by Sovereign Developers

The Bangalore luxury market is offering new upcoming luxury apartments within city. During the month of August and September 2013, the Bangalore city is going to witness the launch of luxury projects by established developers in the heart of the city. There are different Developers offering these projects. The value of the Luxury project is around Rs 1.5- 4 crores. The projects are located in the areas like Koramangala, Indranagar, Jayanagra, JP Nagar 2 Phase, Fraser Town and Residency Road.
 “In this Market there are two related things happening i.e. increase in reliable developers who undertook transparent transaction which has increased the confidence level of individual local owners and hence, unlocking and realization of value of the property by the owners. “One of developer says “This trend is recently caught in Bangalore, but this was common in cities like Mumbai. Compared to other cities, Bangalore has targeted all the projects at the luxury segments”

The price of per sq. ft. is around 9,000-15,000; the projects in the built-up area vary from sq. ft. 1850-3500. “There was always a value in market category within city limits. All the high end consumers realizing the need to have home in the heart of the city or at least there should be a drive of 20- minutes from the living area. Consultants say that “Consumers wants to be in the area where they get each thing, it may be markets, theaters, pubs etc… They like to be located in and around the center off the city.

 This also includes Rangashankara, Chowdaiya Hall or the newly opened Boulevard on the MG Road. If the resident wants to travel for one or two hours from his villa from his place to meet his client or any other place by this he can defeat the stress –free living.”All the projects are between the land owners and the developers, which is resulting in a profit sharing agreement.