Many people with an average budget are hoping for an adjustment in prices in the real estate market in the foreseeable future, but this may not be accomplished because of the fact that the vast majority of the clients are NRI’s and expatriates with potent purchasing power.

In fact, Kirti Mehta, a Bangalore based soft and prelaunch advisor specializing in public relations, has to categorically say that properties get sold even before they are constructed and that even if the developer or the builder get a couple of sales and transactions, they are very happy.
Budget-cut
A real estate expert with over a decades experience, M.T. Manikantan says that in Bangalore one can get a luxury penthouse or a furnished villa replete with all accessories for less than a 1BHK or 2BHK in other places like Delhi, Noida, Mumbai and Pune. The affordable price is 5.5 to 8 Crore for 5 star style luxury including manicured lawns, shielded swimming pools and shiny glass separations.

These same NRI’s who have experienced western standards, now seek the same in Indian upper class realties, with the added advantage of seductive Mediterranean, Spanish and forest style homes.

Nevertheless they seek certain Indian features like a separate entrance, toilets and living quarters for the staff and kitchen and dining areas.

Take for instance, Palm meadows that was priced at 35 lakhs in the late 90’s, now commands 9 crores, yet IT NRI’s being first time rich, do not happen to be great risk takers and are satisfied with the non-volatile steady appreciation of realties. And as compared to other places like Delhi, Noida, Mumbai and Pune, the silicon city of India continues to deliver more for less.