Wednesday, January 18, 2012

Sobha Signature, RIP

Sobha developers were supposed to build their super expensive highly "exclusive" penthouses for "high net worth individuals". Rs. 5 Crores to Rs.10 Crores for 6800 Sq ft to 8000 Sq ft exclusive apartments. This project called, Sobha Signature, located along the congested Harlur Road, was supposed to be their best thingamagic ever.

"Our CEO is going to live here". "Think about it". "O U R CEO. He is the person who will live here" - peddled a salesman.

Turns out, there aren't enough suckers to pay Rs.5 Crores to Rs.10 Crores in Bangalore. Sobha Signature project has been shelved and will be replaced by Sobha Classic Phase II, which is a "poor man's" luxury apartments. Sobha Classic 3 BRs run between 90 lakhs and 1.15 Crores today.

May be this is the start, the super high end is bursting in Bangalore.