Bengaluru’s Yemalur, Bellandur, Whitefield, Outer Ring Road, Sarjapur Road, Marathalli, and BEML Layout were among the areas that bore the maximum brunt of the rains. People looking to buy homes in these places have now become wary of the location. These were some of the prime locations that potential home buyers sought before the floods.
Bengaluru: Not only did the recent floods in India’s Silicon Valley brought things to a standstill but continues to have a ripple effect on Bengaluru’s real estate sector. The deluge has hampered the works of real estate firms that have projects, especially residential ones, in the tech corridor and on the outskirts.
Now, potential home buyers are putting up questions like “Was the project affected by recent floods?”, “How far is your project from the stormwater drain?” and “Do you have a map to prove that?” in view of the recent floods, according to the sales head of a reputed real estate firm.
engaluru’s Yemalur, Bellandur, Whitefield, Outer Ring Road, Sarjapur Road, Marathalli, and BEML Layout were among the areas that bore the maximum brunt of the rains. People looking to buy homes in these places have now become wary of the location. It is worth mentioning here that these locations were some of the hottest destinations for home seekers before the floods.
While the floods have made potential home buyers a tad smart, the deluge has affected the sentiments of those who had already invested in properties in these localities. “I bought a home in Whitefield less than a year ago for Rs 1.2 crore. I thought it was a good deal then, but six feet of water has enlightened me quite effectively,” Ajith Kaverappa, a software engineer, told ToI.
Kaverappa shared that he has made up his mind to sell it and look for a new property. More than my house, I am constantly worried about my cars parked in the basement, he added. This is the plight of many, but some builders and promoters insist the disaster will not impact the real estate sector.