REALTY HIGH

REALTY HIGH
With the speculative rates running as high as Rs 5,000 per sq ft, real estate industry in the Layout is on a perpetually upward spiral.

The boom, however, has also translated into many vacant sites - what with the owners waiting for prices to go further up - and rampant construction activities.

Chinnappa, a resident of Sector 3, says service roads in many pockets of the Layout have become dumping yards for construction material. The surge in construction activity has also led to rampant illegal parking across the Layout. Trucks carrying sand and other construction material have affected the roads, the residents claim.

The traffic situation has also started to look alarming. T V Srini vasan, Secretary of the Fernhill Gardens Apartment Owners Association (Sector 6), points out that there are around 350 vehicles that move out of the apartment complex everyday. “The commuters have to cross two service roads... there’s an immediate need for more speed-breakers or a one-way traffic system,” he says. Drainage covers in and around the apartment complex have also been damaged, with BWSSB showing no signs of action.

With good connectivity to the Outer Ring Road and the bustling Electronic City neighbourhood, HSR Layout has the realty advantage in place. However, the residents believe that persisting administrative apathy could hit fortunes of the Layout, that has over the years emerged as a quiet, upmarket residential locality.