Property buying appetite may slide down in Bangalore
No Comments Sub Category:Uncategorized Posted On: Oct 24, 2011
Real estate prices in Bangalore seems not to follow the proverb “sky is the limit”. The property prices in the city are increasing above the expected limits. The appetite of the property buyers is drastically decreasing as the land rates near the metro stations demands high price tag. The rates have been increased nearly by 15 to 20 percent with the commence of Bangalore Metro. Areas like Whitefield, Byappanahalli, MG Road and Electronics City have seen increase in land rates exceeding 20 percent.
Irfan Razack the CMD of Prestige Group reported saying that the land price hike has also been faced in the suburbs in the city and also with the expanding of city’s metro lines near Mysore Road and Kanakapura will soon be property buyers hot spot, intern this is giving raise to the rate fluctuations in the Central Business District. Astonishing, is where the land rates at Indiranagar and MG Road is costing 20,000 per square feet. With the land rates hike with such a rapidity, Bangalore seems have no room for affordable housing scheme any more.
Source: The Times of India
Tags:
Affordable Housing, Bangalore, Bangalore metro, Electronics City, Increasing land rates, Indiranagar, MG Road, Property Buyers, Property Prices, Real estate prices in Bangalore, Whitefield Bangalore
