Pricey Bengaloooru

Skyscrapers coming up in Bangalore is no more a phenomenon.., however cost of land going up in my opinion is now a phenomenon. No where in Bangalore city do you find property prices anywhere less than 800 INR per Sqft. Flat prices start upward of 20 lakhs, the reason of this price is something that will need analysis. Again if you were to ask me, someone who didnt know the basics paid a huge sum of money to purchase the flat and then that baseless price became the basic price.

Last month, i was just enquiring prices on the eastern stretch of Bangalore... surroundings of Rammurthy Nagar, Kalkere, NRI colony etc. Land price is at 850 - 1200 per sqft, which makes it about 12 lakhs keeping the upper bracket. If you construct a ground only house on that property, then the cost should be around 22 - 23 lakhs. However, i was asked 35 lakhs and the bargain narrowed down to 27.5

The east bangalore property rates are soaring inspite of the slow down in economy. Whitefield is another hotcake. In all people who make the best in this deal is the Real Estate agent. He is to get 2% as the brokerage fee and inorder to enhance this fee, the seller is made to quote a higher price. Since the price is so high, either people dont buy or its just that they get duped.

What is it that is making Bangalore so costly... flats are just being made like there is no construction cost and sad to see on most of the real estate websites many a hundreds of such flats are on sale. Income tax rebate is one of the most compelling factors which is making people buy properties, but should the real estate dealers just keep hiking the prices like there is no tomorrow and as such alienate a mass clientele.