Mangalore Real Estate Update

After Mysore, one of our friends has update from the Mangalore Residential Real Estate space.

The prices have risen sharply between 2004 and 2006 in some parts as much as 200%. Residential apartment prices are as follows,

Belmatta and Falnir command over Rs2,000 / sft
Gandhinagar - Rs 1,900 / sft
Kadri - Rs 1,700 and 1,900 / sft
Pandeshwara - Rs 1,600 / sft
Upcoming areas of Jeppu and Bejai command Rs 1,500 to Rs 1,700 / sft

Insiders from the office of Chief Minister of Karnataka have said that a proposal is being prepared to be presented to Govt. of Singapore to develop IT parks at Mangalore, Mysore and Belgaum on the lines of Bangalore IT park.