Bangalore was once called the pensioner's paradise. Not any more. With the outsourcing boom, the property prices have surged upwards in the last 5 years. Read The Article
The people who have stayed in Bangalore for about 35-40 years want to buy property now will feel lost in the prices. The young generation now-a-days look out for other citites like Chennai, Coimbatore for property. Land in Bangalore also is sometimes not reliable thanks to fake land papers rendered. People from other states pay rent and land prices higher than what is normal resulting in high rental and land cost. propety in Bangalore is like having a out house in LONON. The state government needs to take immediate action or atleast they can make this an election manifesto like in TN that they will give free lands to people and win. Atleast some might get land.
( Posted: Monday , May 15, 2006 at 12:23 )
Harish
Prices of land and flats in bangalore are now stable from last 6 months. People are crying who has bought the land or flat 6 months back. No appriciation at all !!! Intrest rates are increasing .. Many apartments have become ghosts apartmenst as poeple are not leaving and are there for investmenst purpose. Visit the area in apartments in Kumarswamy layout, Uttrahalli, JP nagar 6th , 7th ,8th and 9th phase, ORR, Banarghatta road.
( Posted: Monday , April 24, 2006 at 14:59 )
incognito
Even though prices hit the ceiling, builders are giving a raw deal to residents. HM Tambourine is a project that has been going on & on & on, no cauvery water, plumbing in a mess, wells drying up, no amenities provided yet, but has about 100 residents. Jain is another builder (project is on for the past 3 years). These builders have thrown caution to the wind. Since residents are mostly outsiders, it is a curse to them, since they cannot launch a formal protest. All money in, but no results. But even then prices are really surreal, they start from Rs. 3000 per sq ft. and depending on which you want it could well go to 5000, even if the facility is 12-15 kms from Vidhana Soudha .
( Posted: Monday , April 17, 2006 at 11:15 )
C. Gonzalves
As a means to bring down the prices of Real estate why does'nt the govt. revive the rent control Act. When this was in force the word "Investors' flat" or Speculators' falt were unheard and there were practically no unoccupied flats in the city
( Posted: Sunday , April 02, 2006 at 13:38 )
Balasubramanian A.
Real estates are business propositon and act on the economic theory of "Demand and Supply". When the demand exceeds supply the prices shootup and vice'versa. In the normal course the graph of increase should be natural. But in Bangalore it shotup. The main reason again is the easy money earnings by IT employees and inducing Bank Loans. Naturally the Land sharks and speculators rushed from Bombay and Delhi to grab the opportunity to make their quick bucks. The main sufferer was the old Bangalorian, who was saving money for years to buy a small place in his home town, could not do so, because he could not compete with outsiders earning Ks.
( Posted: Friday , March 31, 2006 at 19:40 )
Rama
Bangalore is a place of Land grabbers, Its a real false alarm, any one now purchasing property for a Huge price in the heart of the city, will soon repent. Already the interest rates have started soaring high. Infy is planning its BIGGEST campus in hyderbad. (its wants to kill another city). Once wipro/Infy leaves bangalore, only Trucks and dogs will be in Hosur road. Even today if some one notices, during a Long weekend or during festive season like Diwali, when many travel to their native, Outskirts of bangalore like Koramangala, BTM layout, JP nagar etc ... is mostly Low in Traffic and less crowd in malls.
Bangalore is now just like Pre- Harshath Metha Scam Stocks. Its going to be worse than the Y2K dot com bubble. Lets hope for the best.
( Posted: Friday , March 31, 2006 at 15:14 )
Ramki
Clearly, the real estate prices in Bangalore are in for a big burst. Heavy speculation coupled with lack of transperancy in the dealings are pushing prices up to astronomical heights. NRIs entering the city, in my humble opinion, no where are close to the supply of appartments available today!! Did anyone hear a pricking sound??
( Posted: Wednesday, March 29, 2006 at 16:35 )
Shyam.P.Kunte
Real Estate prices in bangalre or Chennai are really Surreal and it should be named as `False Estate`...Blame it on speculaters
( Posted: Wednesday, March 29, 2006 at 12:45 )
Saju Sadanand
NRIs, young professionals and software gurus are not the only people living in Bangalore.May be because of the above rates of appartments ,flats are gone up to such an extend where poeple are just paying 40 to 50 lacks just for a flat in air no land ...!!!!In that price we can build two house in our native .Prices are going up day by day .Government should have a rule to restrict the rise in the prices of these flats.Insted BDA selling sites it can sell flats built on that to the common man
( Posted: Wednesday, March 29, 2006 at 12:26 )
babu
I think a lot of people will get badly burnt in this real estate bubble. While it is true that setting up of new companies, influx of people from outside and huge demand upside backed by low interest rate loans have pushed mkt prices up, the growth has been disproportinate...Prices even on outskirts have quadraupled in the last 12 months by speculators...This is a bubble waiting to burst...moment interest rates increase and companies rethink on Blore because of appalling infrastrcture (bad roads, water, power shortages, even as I key in my office is suffering a power outage and am able to function only on backup)things will crumble (those who have long memmories of Blore rela estate remember 1994-95)...Wake up and smell the coffee
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