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Bangalore not exempted by realty recession

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Realty segment in Bengaluru has woes of 15% fall owing to the economic slump. Managing Director and Chairman of Brigade Group said to www.propertykhazana.com that, “Like other segments which turn off the fire of downturn, the effect on realty has also been experienced. Even Cosmo city like Bengaluru which was most occurring in terms of realty has woes for about 15% fall.
Realty group which has three assets under Homestead in the city will open all its 12 assets by 2012, of which 7 are in Bengaluru, comprising 2 hotels in joint venture with the Sheraton Group and 5 comprise island resort in Kerala.” He also said that, “One of the Sheraton Hotels will be launching shortly, expect one Sheraton hotel in Bengaluru, all the others are still in discussion, but still will be opening by 2012.” For more updates on realty market browse www.propertykhazana.com.
Source: NBTVLIVE

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