The Prestige City in Sarjapur Road Bangalore | lm.ee

Posted: 4/12/2021 - 0 comment(s) [ Comment ]
Category: Stories

Prestige City - Prestige Group's humongous residential project at Sarjapur Road near Sarjapur Road Village of East Bangalore includes 1BHK, 2BHK, 2.5 BHK and 3 BHK apartments spread across 10 acres. Prestige City Bangalore - This ideal location makes it a most alluring buy for everyone from IT sectors, the management people and people from all work category. It goes without saying that Prestige Group projects have always offered high quality constructions with best return value on investment www.prestigecity.gen.in/blog.html


The real estate sector was already in the dormant state post demonetisation, GST, and RERA. The year 2019 had a total of 850 applications in Karnataka for new real estate projects but the trend took a downward path in 2020 with only 540 new project registrations due to the onslaught of lockdown on businesses. Localities that experienced high demand before the covid-19 breakout, are now experiencing low demands. Places like Yelahanka, Hebbal, RT Nagar have piqued the homebuyer's interest. Whereas areas like Marathahalli, Electronic City, and Whitefield are not in the run.


It is safe to say that the already static Indian real estate market was hit the hardest by the Covid-19 pandemic during the first quarter of 2020 affecting the industries that work in conjunction with it. The near three month lockdown between March and June brought all industrial and construction activities to a halt or at least made sure of an indefinite delay in revival. Real estate was no different. But all was not lost even when the workers and laborers from the unorganized sector began migrating to their hometowns in order to stay close to their families until the lockdown was lifted which was nowhere near in sight.


Being the second largest employment generator in the country, the ailing real estate was given the first priority by the government in the form of initiatives during the lockdown. Financial sector such as banks and NBFC cut down interest on home loans to encourage people to buy their dream homes in their favorite part of the city as the demand for finished projects went up as people started to view apartments more than walls with doors. They started seeing apartments as potential workplaces. Hence, the need for 2.5 bhk and 3 bhk was and is still on the rise.

 

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