For buyers affordability is a big factor when it comes to getting a property in cities like Bengaluru. The recent pandemic has put the brakes on real estate sector. But the plot development and sales were still seen in green grounds as it was one of the easiest ways of monetising for the developers. This factor gave the buyer an option to get a good bargain for the plots.
The trend can be clearly seen as many established prominent players in Bengaluru have ventured into plot development or are into land parcel sales. The reasons behind this can be quick monetization, easy exit from investment and better cash flows.
The Prestige Park Drive plot sales is being in the market for long though the recent trends have been branded fully facilitated plots due to the entry of organised larger developers. To name few are the Shriram properties, who has entered into strategic partnership with SLV infra projects and have launched a 97 acre project off magadi road. M.Murli, chairman and managing director, Shriram properties also shared about the good response and plan to launch 6 new projects in Chennai and Bengaluru.
Similarly Salarpuria group managing director Bijay Agarwal also voiced confidence in the sector and announced a slew of projects recently. Ashish R. Purvankara, managing director, Purvankara Ltd. spoke about the Provident woodland their first plotted development venture in electronics city which saw inventory sales of about 70 % in a single day according to him.
The development management pact with land owners are also becoming attractive with few still going with the holding land parcels for development.