What is the impact of Bengaluru’s water crisis on real estate? Hindustan Times
Housing sales in Bengaluru have dipped by 2% to 13,133 units from 13,390 units in the year-ago period due to a reduction in sales in the affordable category even as the office demand in the IT city remained flat at 3.5 million square feet, a report by Knight Frank has said. “The less than ₹50 lakh housing segment saw sales decline by almost 65% to 70% in the first quarter of 2024 which has brought down the overall numbers. The sales in the ₹50 lakh- ₹1 crore residential segment has dipped by 7 percent. This is primarily on account of the affordability challenges faced by buyers of this segment. This may be a temporary blip,” said Vivek Rathi, head of research at Knight Frank India, at the launch of the Knight Frank titled India Real Estate: Office and Residential Report (January - March 2024).
