1. Overview of Bengaluru’s Residential Market

Bengaluru’s residential real estate market showed notable improvement in the June quarter of 2024, reflecting strong growth both sequentially and annually. According to Square Yards, the city experienced a 19% increase in registered residential transactions and a 30% rise in sales value compared to the previous quarter. The surge in home sales value reached Rs. 19,631 crores, driven by a growing preference for premium properties.

2. Detailed Market Performance: April-June 2024

2.1 Transaction and Sales Value Overview

• Registered Residential Transactions: The number of transactions climbed to 28,356 units, marking a 19% increase from the previous quarter and a 3% rise year-over-year.
• Registered Home Sales Value: The total sales value grew by 30% sequentially to Rs. 19,631 crores. This represents a modest 2% increase from the same quarter the previous year.
• Average Registered Sales Value: The average sales value per transaction rose to Rs. 0.69 crore, up by 9% compared to the previous quarter. 2.2 Comparative Data Metric Apr-Jun 2024 Jan-Mar 2024 Apr-Jun 2023 Q-o-Q Change Y-o-Y Change Registered Residential Transactions 28,356 23,791 27,562 +19% +3% Registered Home Sales Value (GTV) Rs. 19,631 cr Rs. 15,068 cr Rs. 19,309 cr +30% +2% Average Registered Sales Value Rs. 0.69 cr Rs. 0.63 cr Rs. 0.70 cr +9% -1%

3. Leading Developers and Projects

3.1 Top Developers by Transactions

• Prestige Group: Led with 255 transactions.
• Godrej Properties: Followed with 126 transactions.
• Other notable developers include Sattva Group, Embassy Group, and Provident Housing. 3.2 Top Developers by Sales Value
• Embassy Group: Highest sales value at Rs. 391 crore, led by the Embassy Springs project.
• Prestige Group: Recorded a sales value of Rs. 264 crore, with Prestige Golfshire being a major contributor. 3.3 Top Projects by Transactions and Sales Value
• Prestige Marigold: Most transactions.
• Embassy Springs: Highest sales value.

4. Area and Budget Trends

4.1 Transaction Distribution by Area

• 1000-1500 sq.ft. Homes: Dominated the market with 48% of transactions.
• 500-1000 sq.ft. Homes: Represented 18% of transactions. 4.2 Budget Distribution
• Below Rs. 50 Lakhs: 62% of transactions.
• Rs. 50 Lakhs – 1 Crore: 23% of transactions.

5. Micro-Market Performance

5.1 Regional Activity

• North Bengaluru: Most active with 35% of transactions, particularly in Sadahalli and Devanahalli.
• South Bengaluru: Accounted for 30% of transactions, with Electronic City and Jayanagar being key localities. 5.2 Micro-Market Statistics Micromarket Transactions Sales Value (Rs. crore) Average Sales Value (Rs. crore) North Bengaluru 9,871 6,849 0.69 South Bengaluru 8,556 5,004 0.58 Central Bengaluru 2,812 3,488 1.24 East Bengaluru 3,522 2,682 0.76 West Bengaluru 3,595 1,609 0.45

6. Future Outlook and Infrastructure Developments

Square Yards anticipates continued growth in Bengaluru’s residential market, supported by upcoming infrastructure projects such as the Peripheral Ring Road and metro expansion. The development of 89 new IT parks is expected to further bolster demand for residential properties, attracting more professionals to the city. Despite past challenges, these advancements are likely to enhance Bengaluru’s real estate landscape, fostering positive market sentiment and ongoing demand.