Bangalore is considered a haven for luxury real
estate especially since the realty market here is
largely driven by IT professionals who are welltravelled all across the world. They demand
better lifestyle and state-of-art amenities. Thus,
considering high demand for such projects,
CommonFloor has analysed the luxury real estate
market in Bangalore.
 As per data, from 2010 till date, there has been
an overall decline in the number of new
launches across segments in the city. And
luxury segment was no different. However, the
drop in new supply was not as much as that of
mid and upper-mid segments.
 Possibly, the declining numbers of new luxury
supply suggest that rather than launching new
projects builders are now focussing on
completing their previously launched ones.
 Moreover, luxury properties focus more on
quality rather than quantity.
“
“ Luxury is defined by the style that is added to one’s life.
Market Segmentation of New Launch Projects (2010–15)
Affordable
100%
5%
21%
Mid-segment
6%
18%
7%
15%
Upper Mid Segment
Luxury
5%
4%
4%
13%
15%
15%
28%
27%
24%
53%
54%
57%
2013
2014
2015
75%
34%
33%
30%
50%
25%
40%
43%
2010
2011
49%
0%
2012
Source: Real Insights @ CommonFloor.com
In this report, luxury properties with ticket price over Rs 2 crore has been
considered for both apartments and villas.
Zone-wise Distribution of Luxury Projects
31%
EAST ZONE
58%
Data indicates that east Bangalore has maximum availability of luxury projects, both for apartments and villas. Areas
like Indira Nagar, Whitefield, ORR-Sarjapur Road top the list of luxury markets that witnessed maximum new
launches from 2013 onwards.
Indira Nagar is already a well-established posh residential market while luxury properties in Whitefield and ORRSarjapur Road are seeing demand from the CXOs of IT/ITeS sectors. These are well-travelled professionals who
prefer to live king size. Moreover, these areas still have vacant land for further development and offer good social
infrastructure facilities coupled with various physical infra upgrades including Metro link in Whitefield.
NORTH ZONE
NORTH ZONE
EAST ZONE
WEST ZONE
SOUTH ZONE
<200
>800
SOUTH ZONE
Project Launched in
2013 2014 2015
CENTRAL ZONE
20%
The zone witnessed 20 per cent of the overall new luxury projects
supply comprising of apartments only. The areas here command high
prices primarily for its location. As expected, due to scarcity of land the
new projects launched were mostly smaller in size comprising of less
than 55 units per project on an average. The key localities here include
Vasantha Nagar, Cox Town and Frazer Town.
20%
North Bangalore also witnessed
good supply of luxury projects
from 2013 onwards. The top
markets include Yeshwanthpur,
Yelahanka, and Sadashiva Nagar.
With ample space available,
Yelahanka witnessed the launch of
several
large-size
luxury
properties whereas Yeshwanthpur
topped the list of maximum
project launches with state-of-art
amenities.
CENTRAL ZONE
Project Size – No. of Units
26%
22%
20%
Top markets in south zone
include
Banashankari,
Koramangala and JP Nagar.
Maximum projects launched here
comprise of 180 units per project
on an average. Buyers profile
here essentially consists of
entrepreneurs,
HNIs
and
politicians.
WEST ZONE
1%
2%
Interestingly, west zone saw very
minimal new launches in the
luxury
segment
essentially
because it is an industrial hub with
more demand in the affordable
category.
As per data, east zone witnessed maximum launches in the luxury segment
between 2013 and 2015.
Top 5 Luxury Markets in Bangalore
1
Indira Nagar, already a wellestablished luxury destination, saw
maximum new units supply of luxury
properties which are small in size
comprising of less than 70 units each.
Moreover, the area witnessed no
new launches in 2015.
2
3
4
Whitefield, a self-sustaining suburb
of Bangalore, saw multiple luxury
launches owing to high demand
from IT/ITeS professionals who
prefer to live close to their
workplace. Other than residential
and commercial spaces, the area also boasts of multiple
retail and hospitality options. As per data, the area saw
launch of many large-size projects at an average of Rs
7,500 per sq. ft.
Yeshwanthpur
is one of the
market
with
excellent
connectivity to
city centre via
metro and road.
It is preferred by both the local
Bangaloreans
and
young
population alike.
5
Fraser Town is
also a wellestablished
residential
destination
with
close
proximity to
MG Road.
Strategically located, Sarjapur Road is emerging as a preferred luxury hub owing to ample
land available. It has good connectivity to IT hubs including Whitefield, Electronic City, ORR,
and also Koramangala. As per data, the area saw launch of small and medium-size projects
with state-of-art amenities and large-size units. The average price of luxury properties here
is Rs 8,500 per sq. ft.
The Top 5 Markets in the luxury segment together contribute about 50 per cent of
the total new launches between 2013 and 2015.
Year-wise
Distribution of
Luxury Apartments
2013
2014
2015
 As per data, Bangalore market
 As per data, most
 Unlike 2013, north and north-west Bangalore
saw an overall decline in the
luxury project launches
saw maximum luxury launches in 2014. With
number of launches across
in 2013 happened in east
better connectivity via metro and close proximity
segments in 2015. And so
zone dominated by IT hubs
to the international airport, areas in this region
was the case for the
such as Whitefield and ORR
saw increased supply in the luxury segment.
luxury segment. There
stretch. Besides good
Moreover, there is ample land available for further
were few luxury
connectivity, both areas are in
development in these areas.
project launches
close proximity to workplaces for
this year which
many. Interestingly, most launches
 Further, south Bangalore continued to witness
were largely
here comprised of large-sized projects
the launch of luxury projects owing to the
confined to
(more than 800 units each project).
development of certain IT Parks in the region.
the north
Preferring to live in close proximity to workplaces,
and south
 Following this, south Bangalore also saw
there was growing demand from CXOs and also
eastern
good number of luxury launches in 2013 that
few local residents.
part of
comprised of projects having about 200 to 400
the city.
units each. The prime localities were Jayanagar,
 Interestingly, areas in central Bangalore
Banashankari and J P Nagar which are already wellincluding Cox Town and Shanthi Nagar also
established residential markets in this region. Global
had few small sized project launches in the
Village Tech Park at Rajarajeshwari Nagar could be one
luxury segment.
of the attracting factors for new launches here.
2013 onwards, there has been a decline in new launches in luxury category.
This is essentially due to an overall dip in the launches across segments.
CommonFloor.com, Bangalore
maxHeap Technologies Pvt Ltd
Tower B, 4th Floor, Diamond District,
#150, Old Airport Road, Kodihalli,
Bangalore – 560 008
Authors
Neha Saxena
Senior Research Associate
[email protected]
Bangalore
Gautam Singh Rawat
Senior Research Associate
[email protected]
Bangalore
Priyanka Kapoor
Sr. Research Analyst
[email protected]
Bangalore
Meha Singla
Associate Director -Domain
Research (Real Estate)
[email protected]
Bangalore
Disclaimer: The document above is written by the Domain Research Team at Commonfloor.com, India’s fastest growing real
estate website known for its unbiased prognosis in Real Estate sector. The information provided in this report is based on
CommonFloor data which is collected from various publicly known sources viz, websites, documents and maps. It should be
considered as a guideline and not in absolute certainty. While care has been taken for groundwork, no responsibility is accepted
for the accuracy of whole or any part. This information is confidential and the sole property of CommonFloor.com. It should not
be reproduced in any form, in part or whole, without prior permission.
Bangalore City Snapshot Q3 2015:
https://www.commonfloor.com/wordpress/wpcontent/uploads/2015/10/Bangalore-City-Snapshot-2015-Q3.pdf