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.