Bengaluru’s real estate stocks lost ground around the interim Budget 2024, but the city’s housing and commercial fundamentals—and the broader national story—remained firmly positive, as underlined by ANAROCK and Knight Frank.​

Budget-day setback, broader resilience

The interim Budget disappointed markets by skipping “big-bang” real estate boosters such as new tax breaks for homebuyers, a separate relief package for developers or sharply higher sops for affordable housing, triggering a knee‑jerk sell‑off in realty stocks.​
Yet research houses and brokerages stressed that this was more a sentiment correction than a verdict on the sector’s long‑term prospects, which continue to be anchored by strong end‑user demand and urbanisation.​

What ANAROCK and Knight Frank said

ANAROCK called out the lack of headline‑grabbing incentives but pointed to continuity in infrastructure spending, housing allocations and growth‑oriented capex as supportive for residential and commercial real estate over the next few years.​
Knight Frank’s India Real Estate H1 2024 report highlighted that core drivers such as rising incomes, preference for larger homes and consolidation towards branded developers remain intact across top cities, even if stock prices wobble in the near term.​

Bengaluru’s market: running ahead of its stocks

Bengaluru’s residential market entered 2024 on strong footing, with inventory levels trending down to roughly 45,000 units by end‑Q2 2024, signalling healthy absorption across key corridors.​
Knight Frank and other consultancies noted robust price and sales momentum, with estimates of 5 percent annual growth for the city’s residential segment and high double‑digit price gains reported in several under‑construction pockets.​

Local dynamics: IT, infra and premiumisation

In Bengaluru, three factors cushioned the impact of Budget‑day disappointment: a deep IT‑services and startup ecosystem, ongoing infrastructure upgrades and a clear shift towards mid‑to‑premium ticket sizes.​
Knight Frank data and developer commentary show strong traction in the ₹1 crore–₹2 crore bracket and luxury projects, particularly in North, East and select South Bengaluru micro‑markets, even as rentals have surged sharply in IT‑heavy belts.​

National context and outlook

Nationally, ANAROCK’s tracking of the top seven cities shows housing demand holding up, with some moderation in volumes offset by higher overall transaction values due to premium and luxury sales.​
For Bengaluru, this means temporary volatility in listed realty counters is unlikely to derail on‑ground momentum; instead, the city is positioned as one of India’s most resilient and future‑ready real estate markets, leveraging Budget‑led infrastructure push even in the absence of dramatic, one‑off policy announcements.​

  Anarock, Knight Frank, Real Estate stocks fall