There was a similar boom in 1994 when speculation was rife that Hongkong based Indians would flee to India seeking safer havens owing to the impending chinese takeover in 1997. When that bubble burst, properties in Airport Rd ... came crashing. Bottom line. Buy a property only when you need, not when you are forced to buy one. For a city that doesn't even have a proper international airport, how can one pay such sky high prices. Cities all over the world known for high realty prices have good infrastructure. Bangalore doesn't fall into that category. Also, people who buy such an expensive homes won't be poor and would atleast want good parking space for their 2 or 3 cars. This city doesn't even have proper parking space for two wheelers. It is certainly the eighth wonder that these prices are high. It is a well deserved crash.
RE:Unreal estate becomes real.
by Girish Rao on Dec 14, 2007 09:18 AM Permalink
todays demand is not driven by speculation. An Average 5 year experienced s/w engineer is earning 12-15L pm. Demand is genuine today unlike in 1994. People are desperate to buy flats in Bangalore but they are put off by the high-rate thats all.
RE:Unreal estate becomes real.
by Rahul on Dec 14, 2007 04:48 PM Permalink
wow which company is it.. maybe I will send my resume. Are you living in fools paradise, or you think we are clowns or you part of builkder mafia. can you name One I repeat One IT company which pays that much...you guys are responsible for all this mess
RE:Unreal estate becomes real.
by Ghanta on Dec 14, 2007 06:16 PM Permalink
Abey woh bol rahaan hein ki kaun aise S/W engr. hein jise 5 saal ka experience hein aur 12-15L pa milta hein
RE:Unreal estate becomes real.
by rexberry on Dec 15, 2007 03:30 PM Permalink
Is this the average salary of a SW engineer... tht means out of 1000 SW engineers in bangalore atl3east 800 is gettin that salary.... coz u have considered it average... 5 yrs exp ...wat is your message... is complete bangalore surrounded by 5 yrs experience SW engineers wid 12/15 lakh per annum... instead of givin such figures... better give an average salary of a SW engineer based in bangalore... that will give a clear picture
RE:Unreal estate becomes real.
by Girish Rao on Dec 14, 2007 06:25 PM Permalink
let me list companies which give 12-15L pa for 5 plus experience 1) IBM ISL 2) Oracle 3) Adobe 4) Trilogy 5) LSI 6) Google 7) Aditi 8) Yahoo 9) Msft etc plus a number of small scale companies which are unknown but give 12L pa. And as for IT services professionals the less said the better, although their Indian salaries are low, they make a lot of money through onsite trips.
RE:Unreal estate becomes real.
by Girish Rao on Dec 14, 2007 06:06 PM Permalink
ha ha nice one, but I clarified long back 'ghanta'. What does 'Ghanta' signify ?
