Apartment sales in Bangalore south is expected to increase following the announcement of the Peripheral ring road (PRR) project. The launch of the Peripheral ring road (PRR) will result in various hot localities like Electronic city, Whitefield, Koramangla being more accessible to the working class in Bangalore south. A blessing to commuter all over the city, it will cut the time spent in traveling between office and work, and reduce traffic jams. Apartment sales in Bangalore south are expected to increase following the announcement of the project. Real estate developers in Bangalore are banking on this to sell more flats in a market facing a lot of demand.
The demand for apartment sales in Bangalore has always been great, resulting in skyrocketing prices. The PRR project will infuse a lot of supply in the market that currently lacks affordable price points.
For example the Brigade Group project has seen a surge in demand following the announcement of the PRR project. Prices have increased from 3870 per sq ft to 4220 per sq ft in a matter of a few months for apartments in Bangalore south.
In fact the demand is so high that brokers are having a field day selling flats in Bangalore. With prices ranging from 25 lakhs to 3 crores, every niche is covered and the brokers have no difficulty in pushing units. Given the appreciation these projects are seeing, the brokers have no difficulty in convincing the buyers.