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 Industry & Economy - Real Estate & Construction


Construction boom in Bangalore

G.R.N. Somashekar

A view of a building under construction in Bangalore. The Karnataka Government's decision to raise the guidance value of properties will hike the city's property rates. Since the guidance value is far below the market value at present, the revision will have a big impact on the real estate scene.

Buyers might thus plan their acquisitions before the Government makes the change and this might lead to price speculation. The average collection from registration daily is around Rs 4 crore in Bangalore, and in the past five months it has yielded around Rs 1,200 crore to the exchequer.

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