Bengaluru realty sector fails to benefit from low cost housing

Bengaluru’s real estate market continues to groan under the burden of unsold property and sluggish demand, even as a revival in property sales in other cities encouraged developers to launch a slew of projects.

Nearly one in every five homes scheduled for completion by the end of this year remains unsold, according to a report released last week by DTZ International Property Advisers and Indiareit Fund Advisors Pvt. Ltd, a private equity fund. For projects scheduled for possession in 2011, this figure jumps to 56%.