Bangalore may Lead in Realty RevivalBangalore has emerged as a clear preference for sectors like office and retail, while coming a close third in the residential and hospitality according to Cushman & Wakefield, a retail estate research firm.

In its report Cushman & Wakefield GRI India Real Estate Investment report 2009: ‘Survival to Revival - Indian realty sector on the path to recovery,’ the firm said that Bangalore is expected to see the highest demand for office space in the period 2009 - 2013 with approximately 34 million sq.ft.

The expected recovery in the IT/ITeS sector would have a positive effect on the demand in Bangalore, the preferred location for many IT/ ITeS companies. The demand for retail sector is also expected to be the highest in Bangalore with approximately 7 million sq. ft. while demand for residential is expected to be approximately 570,000 units over 2009 - 2013, with the highest compounded annual growth rate at 14 per cent.

The hospitality sector in Bangalore too is forecast to register the highest compounded annual growth of about 26 per cent in demand, followed by NCR at 24 per cent and Pune at 23 per cent.
Source:Business Standard