Race Course 68 acres to to sold

Today TOI has pointed out the use of Race course for residential purpose, while relocating the real estate to the outskirts, near Bidadi. That is a lovely area!

About 6000 homes of Medium Income Group, in 2 BHK units can be constructed. Alike to Koramangala, National Games Village.

Dont come to me for allotments, the first priority would be for government workers in Bengaluru, age wise top priority, the more old you are, you get the allotment first. Very transparent model suggested.

A big school for 2000 students and a Government Hospital, A bus-stand can be built.

There could be a frontage of various sizes of commercial mall complex can be built.

In the center, a beautiful park, like New York's Central Park can be built.

BSY government can do wonders. Hats off!

Bangalore Real Estate Deals

An established competitor, related to ex CM SM Krishna, managed to convince a residential plots owner (with few sales already) to sell the layout of 10.13 acres to Infosys. Reported in TOI today as well. The white value of deal is 6 crores, working out to about 600 per sqft. Not bad for an area, that sells for Rs 1350/sqft on an average. Now about 40% of the extra land earmarked for roads etc in the layout, becomes part of the commercial site.

What happened really was, even though the layout was approved, but to quash it for the non residential to commercial sake (unless it becomes a hotel of sorts, a 5 star one, that NRN wants to build for only Infoscions) the take back - as they call in real estate layout terms, is genuine.

The reality is, Real Estate is a tough field and everyone knows everybody. Information spreads very fast. A close friend of mine, has to forcibly re-register his 4800 sqft plot, to the co. at the purchased price, with a no loss no win situation.

The truth is the value of plots near Devanahalli is not that hot. At 500 rs/sqft or less goes. The uptrend is in Bidadi only. Personally I have seen a 300% rise in land price on Mysore road.

Companies like Infosys and Wipro, have a strong say in the real estate development.

You know about the Sarjapur Road from Silk Board junction was done in no time, as compared to other activities. Divided highway all along. Where in the world are you guys this would happen?

The Route 76 of USA between Philadelphia to Ohio border, connecting via, Harrisburg and Pittsburgh, was completed in 4.5 years of record time (4 tunnels). No wonder! The distance is about 380 miles.

Now the Silk Board to Electronic City flyover, that was to be inaugurated on August 15th, 2008, is postponed by a few months. Lucky us, in Bangalore, they have ensured that it crosses Chandapur circle - nearabout of Sparsh Hospital as well. 15 kms of fun all the way, with 2 subways!

This BJP government is doing very good work now. Excellent BSY.

Current Activity!

We are working on identifying a parcel of land for a Dutch investor, to setup Mechanical SEZ of Auto components.

Target area in around 25 kms radius, with good connectivity to Airport.

The investor, would not pay residential land prices and will accept 99 year lease as well. There is penalty clause included, in terms of illegal occupied land.

(this is one of the tough assignments, with penalty clause, hence I posted it here)