Since real estate market in Bengaluru is on downward trends, section of buyers are preferred to go for small flats which are ready to occupy. M.S.C. Prasada, who is in construction business in Bengaluru since 20years told that, thousands of flats across the city are left vacant and many are at under construction stage, builders are ready for negotiation to sell these properties. Moreover construction of few residential building have stopped mid-way due to crunch of funds. Less demand for flats has forced the builders to sit for negotiation with buyers, he says.
Since market is in a bad shape, the buyers should exert more cautious. Instead of investing money on a flat which is under construction, buyers should opt for a flats or houses, which are ready to occupy, he suggested. Many builders are offering attractive prices to dispose their flats situated at North, South and East Bengaluru. Especially many flats are lying vacant in East Bengaluru since many years, now failed to sustained financial burden builders are quoting very low price, he added.
If buyers prefer ready to occupy flats, there are more benefits to them instead of investing money to a property which are under construction, Mr. Prasad said.
More Demand to One BHK Flats:
Like in Mumbai and Delhi, buyer prefers one BHK flats with all amenities. Irshad Property Matters, executive head Shabir Sait is endorsing this fact. Due to demand for small flats, builders are constructing 300sft to 600sft dimension flats for Rs. 10 to Rs. 15 lakhs. This trend has encouraged more buyers and investors to go for small flats, he said.