I am sure you are aware of the Supreme Court decision to seal all commercial establishments in residential areas. My sources tell me that lease and rental prices in South and East Delhi have shot up by 70% in one month. Fashion designers who were paying Rs 60,000 as monthly rental after relocating to East Delhi mall are paying around Rs 150,000 per month said another source.Meanwhile, in Bangalore / Bengalooru the IT capital of Asia, legal commerical property prices rose by 10% in a day in Jaynagar said one of my trusted aides. The BMP has started a drive to hunt for such tainted residential-commerical properties. A property owner spoke on condition of annonymoity, that this is a move by the corrupt government to make money in the booming real estate. Lot of speculators have also entered the market making it difficult for true businessmen to conduct business. This should end soon or our economic boom itself will end.
Tags: SEZ India, India Real Estate, Reliance SEZ, Commercial Real Estate
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