IT IS TRUE THAT THERE ARE OVER A LAKH APARTMENTS REMAINS UNSOLD AND THE DEVELOPERS ARE COMING UP WITH NEW PROJECTS, THE BUYERS ARE BAFFLED AT THE PARADOX, INSPITE OF THE UNSOLD INVENTORY AND THE RENTAL MARKET IS COMING DOWN, THE PRICES OF THE APARTMENTS HAVE NOT GONE DOWN SUBSTANTIALLY.
THE BUYERS ARE DUPED WITH ALL UNNECESSARY AMENITIES AND PRE LAUNCH (TOPI) PROJECTS AND SOME ARE LAUNCHING WITHOUT ANY DOCUMENTS AND APPROVALS AT THROWAWAY PRICES.
IT IS A PARADOX THAT DEMAND SUPPLY AND PRICE MECHANISM IS NOT PROPERLY FUNCTIONING OR A POWERFUL COTERIE IS CONTROLLING THE WHOLE SHOW!!! OR THE PRICE MAY BE DOWN GRADUALLY!!!
SINGLE BEDROOM AND DOUBLE BEDROOM IN THE CONGESTED AREAS OF BANGALORE SOUTH, EAST AND NORTH ARE FEELING THE HEAT OF RENT REDUCTION.
IT IS NOT ONLY IN BANGALORE THAT THE REAL ESTATE MARKET IS DOWN, BUT THE SAME SCENARIO IS SEEN IN MUMBAI WITH OVER 75000 UNSOLD FLATS !!!