Correction in Property Rates in Bangalore

The New Indian Express reports that the prices across different parts of bangalore are having a downward correction due to the incessant rains and flooding. link. Due apologies to Eva for saying that it was not so.

If realtors are to be believed, the property prices in HSR layout have taken the biggest hit.

The increase in rates in Bangalore have always been suspect. Why would anyone pay Rs.2000/- per sft for land that has no roads, no water supply, no electricity and evidently no drains. The problem with the growth has been the development of areas that come under different CMCs rather than the BMP. The result, hapazard growth. Hopefully, this will be a wake up call.

Myopic view of Bangalore woes