Its raining discount here in Bangalore on residential projects being developed by Sobha Developers. Residential demand in Bangalore is currently sluggish. Although the company plans to launch one new project in Bangalore in FY09, given the slowdown in demand, the company has pushed back time lines of its other planned projects. The company is evaluating plans to offer homes with smaller ticket sizes of about 1,000 sq ft at an average price of about Rs3,200/sq ft.
We have obtained the price list of various projects of Sobha Developers in Bangalore and Pune and they are offering 8% discount on the prices mentioned in the list. [PDF]
Mumbai - BKC Rentals Come Crashing Down:
With increasing supply and stagnating demand, overheated rentals are bound to correct . However, the corrction has now touched 50%. BCK, deals are now happening at Rs250-225/sq ft vs. Rs450-500/sq ft earlier, according to Mr. Panay Vakil, Chairman of Knight Frank India
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