Bengaluru remains India's favourite place to buy a house

Bengaluru led residential sales in India in 2016 with a 27 per cent share as against 25 per cent in 2015 The other six cities tracked by the CBRE are NCR, Kolkata, Mumbai, Hyderabad, Chennai and Pune Bengaluru, Chennai and Hyderabad accounted for 50 per cent share of the total housing sales last year 

Bengaluru witnessed maximum housing sales among seven major cities during the last year with a 27 per cent share, according to property consultant CBRE. 

The other six cities tracked by the CBRE are NCR, Kolkata, Mumbai, Hyderabad, Chennai and Pune. 

"Bengaluru led residential sales in India in 2016 with a 27 per cent share as against 25 per cent in 2015," CBRE said in a statement. In supply, Bengaluru contributed 24 per cent in 2016 as against 26 per cent the previous year.

"A robust commercial sector (the largest office market in the country), growing IT/ITeS populace, and strong buyer sentiments were established as the key drivers for the trend," the CBRE said. 

The consultant said that Bengaluru, Chennai and Hyderabad accounted for over 50 per cent share of the total housing sales last year. The CBRE is organising its eighth edition of CBRE PropFair 2017 in the city. 

"Bengaluru's status as India's Silicon Valley, coupled with a strong commercial real estate development and leasing activity, is having a positive impact on the city's residential market," said Anshuman Magazine, Chairman, India and South East Asia, CBRE,