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IIM Bangalore, the new victim for realty recession

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As per to the sources saying @ the www.propertykhazana.com, forecasting on the rising realty costs and the shortage of enough funds, the IIM-B is planning to develop extra housing units for the extra students out of the campus by the coming academic year. If this works out, it may set a model for other IIMs. Its campus in Bannerghatta Road is already crammed up, the institute has come to a conclusion to take about 50-55 flats for lease close to the Ajmera Complex. The proposal is to abide the students from 1st year full time EPGP and has decided to start in the coming years in the leased flats. Director of IIM-B said to www.propertykhazana.com that, “Without trailing we won’t do it and we do not know that this is the way to move forward.” IIM- Ahmedabad and IIM-Lucknow has two campuses, but IIM-B was not having any main construction from the past decade.
Chairman of Maruti Suzuki India said to www.propertykhazana.com in IIM Review Committee that, “IIM faculty and administrative staff houses will be shifted out of the campus sites and housing is accomodated there, so that the present infrastructure can be utilized more comprehensively. The institute has picked up about Rs. 30 Crores from the human resources development (HRD) ministry for the OBC quota growth, but the total cost of housing new faculty and students are likely to be sky scrapping.” He also said that, “The institute has bound-up the off-campus decision in spite of planning to commission some construction from the year. Institute has appointed an architect for new hostel amenity and will have about 15 classrooms & 25 faculty residences. It has about 1000 students from different programs on its campus.
Source: NBTVLIVE

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