BANGALORE, India, Feb. 6, 2015 /PRNewswire/ -- SmartOwner, India's first online marketplace for real estate investors, today announced the latest in a series of deeply discounted projects that have been launched to investors on SmartOwner.com. The project, an ultra-premium plotted development in East Bangalore, offers investors a lucrative opportunity to invest in a fast growing residential suburb at a price that is not normally seen in the market.
The past few years has seen a surge in demand for plotted developments in the areas of Bangalore that are in close proximity to Bangalore's IT hubs. In its recent Residential MarketView, CBRE, an international property consultant, predicts that the cut in policy rates by the Reserve Bank of India (RBI) will further accelerate growth in demand for residential projects.
Increased investor interest, complemented by strong demand from the IT workforce, saw increased sales of residential units towards the end of 2014. Most new project launches have been concentrated in the Eastern, Southern and Northern parts of the city, observes CBRE.
"Bangalore is the best example for an Indian city with a perfect mix of the three key attributes smart investors look for—strong population growth, high median incomes and low property prices," says Vikram Chari, the Founder and CEO of SmartOwner. "Not only is it India's fastest-growing major city, it is also one with an average white-collar salary that is higher than that of any other city in India. While cities like Mumbai (Bombay) and Delhi have witnessed highly volatile property prices, Bangalore has witnessed a steady growth in property prices over the last few years."
The project's launch on SmartOwner.com comes against the backdrop of improved sentiment towards investments in India and the Indian economy. The project is brought to the market by a leading hospitality brand and is part of a trend of hospitality companies leveraging their strong brand reputations to enter the luxury real estate sector. This project is planned as an ultra-premium gated community with villa sites and a large clubhouse with resort-like amenities and a spa.
Located on a major state highway North of Whitefield, the project is within 25-40 minutes away from ITPL, Whitefield, CBD and the Bangalore International Airport. The project is also just a few minutes away from the proposed 6-lane satellite town ring road and close to the proposed Bangalore-Chennai Expressway corridor.
Deeply discounted properties are one of the key differences between SmartOwner and a typical property listing portal. While properties in the same location as the project are selling on other portals at prices around Rs. 1500 to Rs. 1900 per square foot, the same property has been offered on SmartOwner.com at Rs. 996 per square foot, which is over 1/3rd below prevailing market rates.
For further information, contact:
Anuraj Jain, General Manager, Digital Marketing, SmartOwner
To view the original version on PR Newswire, visit:http://www.prnewswire.com/news-releases/high-end-real-estate-project-in-bangalore-launched-to-investors-on-smartownercom-300031836.html