After the crash in Polluted Bangalore's property prices, it is now time for the rentals to head southwards.The commercial rental for "A" grade property which stood at Rs 30 / SFT / Month has come down to Rs 20 / SFT / Month and "B" grade properties are even lower at Rs 17 / SFT / Month.
ITPL is also witnessing the slowdown. 6 Months ago they were selling commercial rental spaces for Rs 50 / SFT last week the highest rate was Rs 44 / SFT / Month and a broker involved in the deal said that they will settle down between RS 35 and Rs 40 / SFT in 3 months.
Manisha Grover, Director, Jones Land LaSallee said,
The interest in ITPL and Whitefield is lower these days because Connectivity is a major issue for those who have to commute to and from Whitefield. IT firms are wiling to pay a premium to move to locations with easy accessibility.
