"Presence of IT-ITeS companies, robust social infrastructure, and upcoming infrastructure upgrades have helped the region to evolve into a self-sustaining hub", the firm said.
The increase in sales in East Bengaluru was also visible in the unsold inventory, which recorded a drop of 18 per cent in the fourth quarter of 2019 as against the same period in 2018.
CEO of Trespect India Pvt ltd, Sunil Mishra said, "Bengaluru has witnessed a healthy 14 per cent growth in new launches, with those in the mid-segment (Rs 40 Lakh-Rs 80 Lakh) accounting for 42 per cent share while affordable segment units (less than Rs 40 Lakh) contributed to a 30 per cent share of the total new homes added in 2019".
Additionally, homes in the luxury (Rs 80 lakh-Rs 1.5 crore) and ultra-luxury (Rs 1.5 crore-Rs 2.5 Crore) segments have also gained some sales momentum in 2019, he added.
Sarjapur Road and Whitefield in East Bengaluru were among the top five micro-markets that recorded maximum new launched homes in 2019.
Increased commercial developments, presence of the IT- ITeS establishments along the Outer Ring Road and Whitefield, and good social infrastructure have been instrumental in driving residential growth in this region, it was stated.
Out of the total under-construction supply in the city, 50 per cent is expected to be completed by the end of 2020.
Thus, an uptick in sales is expected over the next three to four quarters, which will further reduce the inventory overhang, Trespect added.