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Bangalore property market is seeing an improvement in values and demand post the recession two years back, according to developers and realtors. According to MagicBricks data, localities like HSR Layout, Whitefield, Kundalahalli, Silk Board, Rajarajeshwari Nagar, J P Nagar, among others are witness to an upswing in property values in the past few quarters. Rahul Majumdar, Director of Alternate Channels, Artha recently said on a chat forum by MagicBricks that property prices in Flats in Bangalore are expected to go further up. He attributed this to interest rates near their peak levels. Majumdar added that the Bangalore market in general has been beaten down over 25% in the last 2 years but has begun to appreciate this year, though far less than other Indian cities like Mumbai and Delhi. HSR Layout, Whitefield, Thanisandra, Kundalahalli and Silk Board saw an increase of 4%, 4%, 15%, 9%, and 6% respectively in the Oct to Dec quarter compared to the Jul to Sept period. Local realtor, Kishore Kumar of Encarta Constructions said that Bangalore market is seeing a steady rise in prices, especially near the Airport region up to Chikballapur area. However, the sale in this region has been of land, and not units. "Barring few areas like Kanakapura road, Hosur road stretch (after Electronic City), Chandapura, rest of New flats in Bangalore is witness to growth both in terms of demand and supply," Kumar added. Meanwhile, localities like Rajarajeshwari Nagar and Bannerghatta Road both witnessed a rise of 9% in the Oct to Dec period compared to the previous quarter. For the upcoming growth corridors, good investments are typically coming up in areas like Electronic City, Doddaballapur, Whitefield, according to Majumdar. He pointed out that Marathahalli suburb is also one of the upcoming areas as it is the connector to Whitefield. Also, the ORR (Outer Ring Road) has some good apartment and villa projects worth considering. Kumar mentioned that key areas of development have seen a 15% rise in the projects from commencement to possession time Residential flats in bangalore. "Factors like Hyderabad market not doing too well because of the Telangana issue have also worked in the favour of property investments in Bangalore," he said.
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