The boom of the early nineties and the mid nineties in Mumbai Real Estate Market did have its impacts on Real Estate Market of other cities in India particularly Bangalore, considered to be the fastest growing city. Bangalore saw lot of activities in Real Estate Market during 90's because of the entry of property developers from outside the State - particularly from Mumbai. However with the down trend in Mumbai from 1995, there was lull in the Bangalore Market.  The main reason for

the Market to fall in Bangalore was the failure on the part of govt. & state administration to provide / maintain the bare minimum infrastructure like Power, Roads, Sewerage, Water and Transport.

However with the charge in Government after the general elections the similes has, as it looks at the moment, is changing for the better. Various statements made for improving Bangalore and quick actions towards implementations of the various programmes which were pending for a long time has certainly resulted in a change in the Real Estate Market of Bangalore. Added to this was the liberalization programme of the centre which prompted various Multi National Companies & Foreign Investors to enter Bangalore City consequently helping the rise in the property market of Bangalore.

Now that the Market is steady and showing improvement it will be necessary for all the concerned to make all possible efforts to help the market to maintain the tempo. The Bangalore Market would certainly improve if some of the programmes are implemented faster. Some of the programmes like new Air Port has to be taken up without loss of time. This project has been delayed so much that people have lost hopes. But now that an announcement has been made about the commencement of the work of the project from 1st November 2000, it is necessary that it becomes a reality.

All the projects in the pipeline depending on the Air Port Project should also came up along with it.

The road works under the Band Scheme should be completed on schedule.

Power should be available with infrastructure.

Transport in the city has to be improved to meet the increased demand.

Water supply project should be completed on schedule.

The Real Estate activities in Bangalore entirely depend on the implementation of the projects and carrying on the works with a fast pace, it is the government, which has to act quickly. If the government and other various agencies involved in the execution of many infrastructural works should act quickly. It is certain that the future of Real Estate Market of Bangalore is Brighter.

Keshav Morab
104, K.T. Apartments, 8th Main, 9th Cross, Malleswaram, Bangalore - 560 003. Ph: 3360521.
         

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