I had mentioned this earlier on this blog also, the incoming of big real estate developers in Belgaum have sky rocketed the prices of real estate. The same trend continues in town even when the real estate market is not doing so well with the hike in interest rates by the banks.
Civil Hospital Road (Dr.Ambedkar Road) the rate has touched Rs.35 lakhs per guntha, that’s a whopping 3215 per Sq.Feet on the other hand its rival competitive Khanapur Road which boasts of Ambani, Tata, Birla & Biyani on the same road now costs Rs.30 lakhs per guntha, that is Rs.2755 per Sq.Feet.
Now to me, that is a lot of money. Lease rentals are between Rs.50-65 per Sq.Feet. Due to the price rise on Khanapur road, the prices in the internal roads have also increased to about 12 lakhs per guntha.
Heard the Nucleus mall is asking for Rs.10,000 per Sq.feet for out right purchase.
The increase in the price has been very rapid. In the past year, it has risen by 25 to 50%. Is this good or a bubble which will burst nobody knows, at least I do not know.
I request you readers to put in your views on this.
With inputs from Tarun Bharat.
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