Incessant rains have left Koramangala residents worried Low-lying areas are filled with water, making it difficult for people to step out of their houses Despite low rents, tenants are not ready to stay there At least 30 percent decrease in the rents of the houses situated on the ground floor
Incessant rains have left Koramangala residents worried as many houses in the low-lying areas are filled with water, making it difficult for people to step out of their houses. Tired of this ordeal many tenants have opted out of the area, making the rents fall steeply.
Despite low rents, tenants are not ready to stay there, nor anyone is ready to take the houses situated on the ground floor.
After a heavy downpour on the Independence Day this year which in Bengaluru alone recorded 14.4 CM rainfall (HAL Station of the Meteorological Department), many places in the city were flooded.
This has affected the real estate prices in Koramangala. The Hindu reported that there has been at least 30 percent decrease in the rents of the houses situated in the ground floor. The agents are receiving continuous calls to find a new house anywhere but in the low-lying areas of Bengaluru.
