Bangalore: Bangalore is getting cheaper as the realty major DLF has cut down its rate by 32 percent for an upcoming project in Bannarghatta road, Bangalore. The price per sq.ft. has now come down to Rs.1,850, a price last quoted in 2000, reported The Economic Times.
The company had in October 2008 announced the launch of this project with Rs.2, 750 per sq ft. According to the company the slash in price is clearly a response to slowdown. As per the new offer, DLF will set up 1,980 units over 27.5 acres. The move to cut the rate by DLF is expected to hit local realty majors such as Prestige and Nitesh Estates as they have projects to come at price ranging Rs.3, 200-3,500 per sq ft.
Friday, February 20, 2009
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