Real Estate Flourishes Even More!

Bangalore’s real estate industry is doing better than ever and if current trends are anything to go by, it will remain that way in the coming years till 2018. Housing requirements have undergone a boom ever since the city emerged as one of the major IT hubs in India that employed a workforce comprising lakhs!Confident_112

Cushman & Wakefield (C&W), the global real estate consultancy has conducted a study where supply projections have shown about 56% of new units might be for the MIG, while 15% is for HIG, and 29% is for LIG. C&W has stated that the demand is increasing at an exponential rate and might be unmet in all segments. Top firms such as Confident Group are working hard day & night to fulfill housing requirements in the city.

The major issue that has cropped up is that till date, Bangalore was focused on MIG because of the large-scale mid-level IT workforce, but now that major companies are setting up headquarters here, it has spiked the demand for HIG housing as well. For instance, need for housing options for CEOs is likely to shoot up very soon. Requirements for urban housing are projected to rise to almost 13 million units at the end of 2018, after adding to the present unmet demand.

MIG will be responsible for the largest volume when it comes to demand, with the figure standing at a whopping 1.08 million units till 2018, with needs for LIG housing standing at 1.05 million units. The HIG portion of the housing will be at 0.52 million units, which makes it evident that MIG and LIG will consist of almost 80% of the total demand in the main cities. You can surely expect Confident Group to play a major part when the housing requirements are on the rise.

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