|
|
 |
|
|
Overflow of Surplus Flats in Bangalore is Dumbing down Property by poonam verma
|
|
|
Overflow of Surplus Flats in Bangalore is Dumbing down Property |
|
|
|
|
|
Real Estate
|
|
|
The global economy which was reeling under an economic slowdown is now slowly coming back to business-as-usual. The crisis which originated in the residential mortgage bubble of the United States had far reaching effects on housing ventures across the world. Even India which was commended for its sound regulatory practices could not escape the wrath of the meltdown. property segment took a brutal beating/ regardless if it was the metropolis of Delhi or Mumbai. All were bruised a such as, with the Information Technology/ being the one which was & still is the backbone of outsourcing/ sustaining a frontal hit new apartments in Bangalore. Even the property segment of the garden city of Bangalore/ a city with one of the largest floating populations/ was not spared. Many an expatriates lost their jobs in the IT industry, which in turn led to fleeing of the workforce in large numbers/ or those who stayed back drastically reducing their expenditure. Chief amongst the list compiled for cutting corners/ house rent was the numero uno. This led to a situation of greater supply of houses in Bangalore than the people ready to occupy them. Anyone with even a shred of knowledge about the laws of Economics would know where such situation leads to. Increase in the number of apartments in Bangalore led to a sharp decline in the demand for the unoccupied houses. Even the builders of some of the new residential venture in & around Bangalore halted their growth activity/ as they saw the slump in demand detrimental to their bottom-line profits. Large swathes of land which was appropriated for developmental activity lay idle in anticipation of better times. The vicious cycle of reduce-consumption-leads-to-reduced-econ omic-activity has abruptly stopped the rally which the booming property segment was enjoying for quite some time. Even after more than two years of the watershed event/ people are still skeptical about investing their money in property. With the bearish tendencies ruling the roost/ most of the prospective house purchasers are still anticipating a further dip in the prices of new residential apartments in Bangalore. Faced with the near extinct species of purchasers, all major builders have halted their ambitious residential ventures. Among the different types of flats which are available, the worst hit is the lavishness flats sector. To boost the demand, developers & builders a such as are using every tool at their disposal/ right from flexible rates for parking space to discount in prices. Some of them have gone to the extent of doling out freebies such as semi-furnished flats or in extreme cases even giving cars.
Related Articles -
New, apartments, in, Bangalore,
|
Rate This Article  |
|
|
|
|
|
Do you Agree or Disagree? Have a Comment? POST IT!
| Reader Opinions |
|
|
|
|
|
|
|
|
|
| Author Login |
|
|
 |
Advertiser Login
ADVERTISE HERE NOW!
Limited Time $60 Offer!
90 Days-1.5 Million Views
|
|
TIM FAY
After 60-plus years of living, I am just trying to pass down some of the information that I have lea...more
|
|
|
|
|
GENE MYERS
Author of four books and two screenplays; frequent magazine contributor. I have four other books "in...more
|
|
|
|
|
DONNIE LEWIS
I'm an avid consumer of a smoothie a day living, herbs, vitamins and daily dose of exercise. I'm 60...more
|
|
|
|
|
LAURA JEEVES
At LeadGenerators, we specialise in content-led Online Marketing Strategies for our clients in the t...more
|
|
|
|
|
ADRIAN JOELE
I have been involved in nutrition and weight management for over 12 years and I like to share my kn...more
|
|
|
|
|
SUSAN FRIESEN
Located in the lower mainland of B.C., Susan Friesen is a visionary brand strategist, entrepreneur, ...more
|
|
|
|
|
STEPHEN BYE
Steve Bye is currently a fiction writer, who published his first novel, ‘Looking Forward Through the...more
|
|
|
|
|
STEVE BURGESS
Steve Burgess is a freelance technology writer, a practicing computer forensics specialist as the pr...more
|
|
|
|
|
ALEX BELSEY
I am the editor of QUAY Magazine, a B2B publication based in the South West of the UK. I am also the...more
|
|
|
|
