Page 49 - Arvind 2024

Corporate Overview
Statutory Reports Financial Statements
Forest Trails, Bengaluru
The rise of the gig economy and changing lifestyle preferences have made branded co-working and co-living spaces highly
sought after among Bengaluru’s young professionals and students. These spaces offer community, affordability, and flexibility, catering to the preferences of
Gen Z consumers. While the tech sector primarily dominates the city’s employment profile, the economic activities of Bengaluru are diverse. The city hosts many non-tech industries such as life sciences, defence and aerospace, educational institutions, consulting firms etc. which keep the city’s income growth well balanced, thus driving the consumption demand including that for real estate.
The traditional East and South East Bengaluru micro-market continued to lead sales comprising a share of 39% of the total sales
in the city in 2023. This micro- market is connected to the large employment hubs located in Electronic City, Outer Ring Road (ORR) etc. Additionally,
the ongoing construction of the metro-lines, i.e., Yellow Line on the Hosur Road and the extension of Purple Line to Bannerghatta Road, enhances transport infrastructure of this micro-market. The North Bengaluru micro-market is an evolving and one of the rapidly growing clusters in the city. In 2023, the micro-market saw
22% of sales, with a sharp rise in the absolute volumes. The Blue Line metro connecting North Bengaluru via ORR is one of the fastest developing metro projects in the city and is expected to be operational from 2026. Further, the operation of Kempegowda International Airport Terminal
2 has led to infrastructure investment in this pocket.
Bengaluru’s real estate developers have been pioneers in creating mixed-use townships over the
last two decades, blending offices, retail, leisure facilities,
and sometimes even educational and healthcare facilities within residential communities. This model has revolutionised the
concept of work-life balance, offering residents the convenience of short commutes and onsite amenities. Bengaluru’s market
has warmly embraced this model, with an increasing number of such developments on the horizon.
Pune: Pune’s progress as
a flourishing Information Technology hub, coupled with
the government’s focus on infrastructure development, has positioned the city as a crucial housing destination. Several pivotal infra developments are taking place in Pune, including the ring road project, the expansion of the metro line, and the ongoing Pune international airport project.
In 2023, Pune’s real estate
market displayed continued growth, achieving its highest-ever residential sales figures in the last eleven years. The total sales in the Pune residential sector surged 13% YoY to reach 49,266 units.
The most popular category among residential purchases was properties priced between Rs. 50
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