With a clear intention of penetrating and dissolving the suspected cartelization of transferable development rights by influential Realtors, the state government of Karnataka has come up with a plan to digitize important documentation and develop the regional real estate markets on the models followed by financial stock exchanges.
The state regulators under the purview of the Real Estate Regulation and Development Act are now moving important processes to the digital space to bring about greater transparency and order in the real estate industry of the garden city. The developers in Bangalore have welcomed the move with open arms since it is expected to trigger the demand for real estate products by encouraging buyer’s to invest further in housing.
The ongoing developments in the real estate sector in the garden city has already had a notable impact on the sales of apartments in Brookefield main road.With top IT companies, pushing the bar by offering astronomical pay packages, the demand for apartments is expected to grow further by bigger margins as they are the preferred choice amongst IT workers. It would thus be fair to say that the real estate industry in Bangalore will continue to flourish in the years ahead.