But recession is not all that bad news to me. Often I have cribbed about the rising apartment rates and rental charges in Bangalore. And now I find some solace in the news that reality sector is hit and I’m glad that I’m not a property dealer. This credit crunch has put on brakes on the spiraling reality prices which Bangalore has witness over the past 5 years. A good pause of growth is fine for a any sector and to put slight brakes on rising greed in our citizens.
Along with the stalled prices of real estate I would like to see lower rates for rent. This is something which is yet to come in a big way. Even now these shady brokers insist that apartment rates are still on the highs. A two bedroom house in Koramangala still fetches across 10K and even a single bedroom dingy houses owners expect a good 6 or 7 K.
Another visible sign of recession in Bangalore is lower attendance in the new age coffee joints. Thin crowds of cuppochino cowboys and girls is another index to go by about the lower spending from these yuppie crowd.
Opportunity does exist in recession:
All is not lost for companies that work to serve for global economies. Recession is a good time for more small business to provide vital biz saving services at a lower cost. It’s also time for Indian business to look closely at customer’s satisfaction as a key matrices to jingle their cash registers.
Flossy Ideas, Meetups and Views 