Bengaluru's key locations expect steady growth
Bijay Agarwal, Managing Director
Invest in one of the nation's prime IT and education hub, says Salarpuria Sattva Group
Published: Sat 15 Aug 2015, 2:30 PM
Last updated: Sat 15 Aug 2015, 4:33 PM
The Salarpuria Sattva Group, which was founded in 1986, is a leading real estate developer based in Bengaluru. It has a diverse portfolio comprising IT parks, commercial, residential, hospitality and retail properties.
Excerpts from an interview with Bijay Agarwal, Managing Director of the group:
Could you give us your perspective on the real estate sector in Bengaluru?
Bengaluru has had a consistent demand for homes from end users even though the rest of India shows a dip in property trends. That is because Bengaluru is a job, IT and education hub. The climate and cosmopolitan culture adds to the attraction. The real estate sector is growing fast, supported by upcoming infrastructure.
If there is a slight slowdown in Bengaluru, it is due to the national sentiment. People are waiting to see if prices will go down too. This is not going to happen, at least with established builders. We, at Salarpuria Sattva, plan to build more during this period. The demand is going to pick up soon and the price is good now.
The property market is not going to remain slow for long. Investors too have realised that in the long run the best returns are achieved from real estate. We expect prices in Bengaluru to grow at a steady growth pace of 10 to 20 per cent.
How about the city's infrastructure?
Infrastructure has definitely made steady progress, due to which the circumference of Bengaluru has grown and the city has become less congested. But there is a lot more desired. The metro work could be completed faster and public transportation could be made more efficient. However, we are positive that the administration is doing its best and it is all falling into place. The future looks very good for Bengaluru.
What are the new projects being launched by your group?
We have launched above 5,000 units in the premium range over the last two quarters.
Our properties are at key locations spread all over Bengaluru. Each of these areas has its uniqueness and benefits. Some of the new properties include East Crest on Old Madras road, Laurel Heights on Hessarghatta main road, Cadenza on Hosur main road, Divinity on Mysore road and Casa Irene on Bannerghatta main road.
In the ultra-luxury category, we have launched Northland town houses on Hennur main road. We have also launched our first urban plotted development project, Pipal Tree at Tavarekere, a fast developing locality.