If Kempegowda were to arrive at Bangalore he would find the city having grown rotund over the decades — perhaps beyond recognition. Though native Bangaloreans feel out of place in the city with the old-world charm having drained out, the newcomers to the ‘Garden City’ still find enough reason to not only praise the place but also invest in it.

Real estate dealers and brokers who played middlemen flamboyantly all these years, have turned out to be a minuscule body in face of the rising requirement for property. They have been forced to take a backseat as mighty builders prefer to sell their ware through property exhibitions. Hence it is no wonder that ‘realty exhibitions’ have become the order of the day, with people pouring forth from every feasible direction in this ‘city of opportunities’!

Many reputed builders feel that these exhibitions serve as a common platform to showcase the property for sale, with the city witnessing a sea of in-surging populace. For the last five years, these exhibitions have been doing regular rounds in the city under the auspices of private event managers and reputed financial organisers.

Most builders seem to be very happy with this new system for they uniformly observed that the remarkable rise in the country’s GDP growth has touched a new high these days — forming the most salient point and encouraging factor in the sales of property like never before. It was a pleasant surprise to learn that the mighty builders were not fazed in the least bit to be facing their clients on “level playing field” as they all seemed to be very confident and considerably complacent with their work. 

State of flux

When several reputed builders were asked to mention the names of some of the fastest developing residential areas in Bangalore, they unanimously pointed out that Bangalore is always in a state of flux. When a person decides to invest in land or property in Bangalore it is mandatory for the prospective buyer to understand that the city is very clearly demarcated in terms of direction.

Bangalore city has the distinction of sporting a different flavour and fervour in each portion of the city. Basic civic amenities like the availability of water, electricity, sanitation and roads, are the main determinants of prices of land, houses or apartments. If the area possesses additional facilities like good hospitals, schools, markets and transport, then the prices stand taller. Another important factor that determines the prices is the proximity of the location to the Bangalore city railway station. Any land or property within the radius of twelve kilometres from this centre commands a higher price than the land that lies beyond.

A survey divulged that native Bangaloreans have shown a clear preference to buying property or apartments in developed hassle free areas like JP Nagar, Kanakapura road and Bannerghatta road, though the price is a trifle on the higher side; while recent settlers in Bangalore prefer to buy sites and build their own designer houses under the guidance of architects or buy customised flats along the outer ring-road area.

One-stop shopping

Some of the older residents of the area said real estate prices fluctuated on a daily basis like
the price of gold. Areas like Rajajinagar, Vyalikaval, Malleswaram, Chamrajpet, Jayanagar among others which are as old as the city itself, are still lending themselves to constant changes.

Old landed houses are giving way to flats and commercial complexes, thereby multiplying the existing property manifold, both in terms of money and space, making it a mind-boggling exercise for realtors. It is at this juncture that a visit to a property exhibition turns out to be a one-stop shop for all property needs for most customers looking out for services in various capacities. Homes, readymade interiors, loans, furniture, e-needs and just about anything related to houses, are available under one roof in these realty exhibitions.

When a motley section of people across the city of Bangalore were consulted on the subject of these exhibitions, most of them acquiesced that the concept was a very useful one because they could be exposed to a whole range of property — both in terms of quality, space and price in some of these exhibitions where they could compare builders and their projects on several counts. Some people expressed their apprehensions about buying property amidst the Sakrama controversies that have enveloped the city.

Till this day and time, acquiring a new home has connotations beyond just being ‘property’ to an Indian. It is an investment of a lifetime to the great Indian middle class. Hence it becomes mandatory to double-check legal documents with the help of a legal body before signing any contract on the dotted line.

All is not well in the builders’ scene either. Although they understand the concept of the exhibition, the ‘cut-throat competition’ leaves little to be desired. A couple of property dealers who have been participating in these exhibitions in the past, have decided to keep off in future because apparently the exercise serves them no purpose.

The official excuse of these companies is that they are busy with another project elsewhere, but in truth they appear to have burnt their fingers badly during their previous exhibitions. On conditions of anonymity they revealed that these exhibitions were no cakewalk for they (exhibitions), erode away their money, time and most of all, they are forced to play up to the Jones’ as the potential customers invariably look only into the cost factor of the final product.

For instance, the potential customers do not really consider the quality of the building material that goes into the project or the privilege to make internal changes in the houses, extra meaningful and practical facilities like plain stairways for the elderly and physically challenged in case of power failures, large accommodative lifts, superior and foolproof security systems, that can push up the costs initially but will prove to be a wise investment in the long run. Yet these factors take a backseat in the minds of buyers for they tend to be carried away by glossy brochures which promise them a jogger’s track, a swimming pool, a gym, an herbal garden among other things.

These builders pointed out that the buyers should first of all be aware that area in terms of locality as well as size, is the most important criteria in pricing property. Besides, it is next to impossible to provide fancy frills like a pool or a gym when flats are being reconstructed in sites scattered in the heart of the city. According to these builders, unless the buyer does his homework well, companies with a practical approach like themselves stand to lose.

Now that the pros and cons of making your way through a realty exhibition have been spelt out, it will hopefully help you make your decision in a discerning way!