- Bengaluru is witnessing maximum demand for plots in India
- 7000-plus plots spread across 7 key investment corridors
- Demand for plots in Bengaluru growing faster than that for apartments
- Magicbricks newly launched Plots platform will help buyers taken an informed decision
Magicbricks, India’s No.1 property site, today announced that with Bengaluru witnessing the highest demand for plots in the country, its newly launched platform for Plots will offer prospective buyers a wide range of 13500-plus authority approved plots across the city, out of which 50% are along the IT hubs’ seven prominent investment corridor making them one of the most sought after residential real estate destinations.
In line with its promise to offer buyers a seamless experience, Magicbricks’ recently launched platform for Plots will provide prospective buyers a whole range of plots starting as low as Rs.194/sqft approved by different authorities like Bengaluru Metropolitan Region Development Authority (BMRDA), Bruhat Bengaluru Mahanagara Palike (BBMP), Bangalore Development Authority (BDA) and Bangalore International Airport Area Planning Authority (BIAAPA). Around 50% i.e 6600 of plot listings are owner listings, which is testimony of the trust that the brand commands in the market. All the plots have been carefully curated for the platform by a huge team of Magicbricks’ on-ground researchers and prospective buyers will get access to credible information and latest updates that would help him/her conduct an in-depth research while making a smart decision.
Commenting on supply on the newly launched Plots platform, Mr. Sudhir Pai, CEO, Magicbricks, said: “We are witnessing a V-shape recovery in demand in Bengaluru’s real estate market and it is in fact faster than the national recovery. The demand is now 30-40% ahead of pre-Covid levels. It is encouraging to see that searches for property in Bengaluru grew by 47% in the July–September quarter after witnessing a fall of 14% during the April-June quarter amidst COVID lockdown. Significantly, we are also seeing a recovery in demand for plots and it is faster than that for apartments in Bengaluru. This demand is accentuated in the peripheral areas of Bengaluru and across the city’s seven prominent investment corridors. To meet this demand, we have carefully curated a huge range of plots that are approved by authorities and the interventions that we have created on our platform will help buyers make an informed decision.”
Around 7000-plus plots are located across the seven investment corridors - Bengaluru-Magadi Road Corridor, Bengaluru IT Corridor, Bengaluru Automotive Corridor, Bengaluru-Chennai Industrial Corridor, Bengaluru Mysore Corridor, Bengaluru-Mysore Industrial Corridor and Bengaluru Airport Corridor. Out of these seven corridors, Bengaluru Airport Corridor has the maximum supply of plots followed by Bengaluru IT Corridor and Bengaluru-Chennai Industrial Corridor. The demand drivers for the plots in these corridors include economic, infrastructural and social factors.
Magicbricks’ Plots platform presents multiple insightful sections like Popular Investment Destinations, Featured Plots, Key Insights on Plot Investment Corridor, Owner Plots, and Plot Investment Guide, that would help buyers gain in-depth knowledge on the locality where they plan to buy, besides the future growth potential.
About Magicbricks: India's no 1 property site
Magicbricks is India’s No.1 property site. With monthly traffic exceeding 20 million visits and with an active base of over 1.4 million+ property listings, Magicbricks provides the largest platform for buyers and sellers of property to connect with each other in a clear, transparent manner. With this in mind, Magicbricks has innovated several product features, content, and research services, which have helped us build the largest audience pool.