‘Ghost map, zombified regulations': Redditor warns why Bangalore's housing market is a ticking time bomb
(You can now subscribe to our
(You can now subscribe to our Economic Times WhatsApp channel
Bangalore's real estate market is heading toward a full-blown crisis, and it's not just due to soaring demand. According to a Redditor 's viral post, a cocktail of outdated planning, chaotic regulations, bureaucratic red tape, and government inaction is about to send property prices into the stratosphere. And, they warn, the worst is yet to come.'If you're trying to buy a home, or even just rent a decent place without selling a kidney, you've felt it. The squeeze. The insane prices for tiny spaces,' the post begins. 'We all know the demand is crazy, but what nobody is talking about is the massive, man-made supply crisis. And the fuse was lit years ago.'The Redditor outlined five key reasons why the housing supply is being throttled:According to the Redditor, the city "is running on a Ghost Map from 2005"."Bangalore is literally being built based on a plan that expired years ago. The Comprehensive Development Plan (CDP) 2015 is what dictates zoning and land use. We are a global tech hub operating on a city plan that doesn't account for the last decade of explosive growth. The new Master Plan? It's been "in the works" for years, with no end in sight. We are building a future-forward city on the back of a fossil," the post read.The Redditor also slammed 'zombified regulations' for the uncertaininty plagying the housing market of the city. "The Rules are a "Ship of Theseus" Nightmare. Developers and even individual home builders are trapped in a maze of "zombified" regulations. There are so many notifications, amendments, and clarifications to the building bye-laws that it's nearly impossible to know what's legal anymore. Rules change midway through projects. What was permitted yesterday is illegal today. This constant uncertainty makes builders terrified to start new projects, choking the supply of new homes," the post added.The post also slammed political parties for inaction in the matter. "They've (the state govt) been taken to court by developers over a circular demanding exorbitant fees for project approvals. This standoff means fewer projects are getting the green light, and the ones that do will pass those costs directly on to us, the buyers," the Redditor claimed.The Redditor also claimed rampant corruption in the sector. "Every single real estate transaction, big or small, has to go through the black hole of the land records and survey department. Want to get your land surveyed? Good luck. Need a file to move from the surveyor to the Assistant Commissioner to the Deputy Commissioner? Be prepared for "speed money" to become part of your vocabulary. This systemic corruption and intentional slowdown means land that could be used for housing is tied up in red tape for years," the post added.The Redditor warned that due to fewer new projects along with insane demand and rising construction costs could lead to a situation "where the only new housing available will be for the ultra-rich. The rental market will become even more of a bloodbath. The dream of owning a home in Bangalore will be just that - a dream.""This isn't a natural market correction. This is a crisis fueled by incompetence and apathy," it added.
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Time of India
2 hours ago
- Time of India
100% tariff on chips and semiconductors? Trump plans big tech crackdown as firms race to build in U.S.
Why is the U.S. targeting chip imports with a 100% tariff? Which companies could be impacted the most? Live Events How will the tariff affect electronics and consumer prices? Is this a game changer for the U.S. chip industry? What does this mean for the global tech economy? FAQs: (You can now subscribe to our (You can now subscribe to our Economic Times WhatsApp channel President Donald Trump has announced a 100% tariff on all imported chips and semiconductors. This dramatic move is aimed at pressuring tech companies to bring semiconductor manufacturing back to the United States. With global tensions high and supply chains under strain, this policy marks a turning point not just for the U.S. economy—but for the entire global tech to trade data, the U.S. imported approximately $46.3 billion worth of semiconductors in 2024, making up nearly 1% of the country's total $3.35 trillion in goods imports. These numbers highlight just how critical imported chips are to the American economy—and how bold this new policy really new 100% semiconductor tariff is more than just a trade policy—it's a clear message. Trump wants to reduce America's dependency on foreign-made chips, especially those coming from Asia. Over 70% of the world's chips are currently produced in Taiwan, South Korea, and China, leaving the U.S. exposed to global disruptions and geopolitical tariff is designed to flip the script. Instead of relying on global factories, Trump wants companies to build chip facilities on American soil. It's a direct attempt to bring tech manufacturing back home—and it's happening giants like, andrely heavily on imported chips to power everything from iPhones to electric cars. But Trump has made one thing clear: companies that are already building or committing to build semiconductor plants in the U.S. will be exempt from the 100% for example, has already pledged a $100 billion investment in U.S.-based chip and component manufacturing—a strategic move to sidestep the penalty and strengthen its domestic supply chain. Others are expected to follow suit, fast-tracking plans to expand U.S. operations and avoid the steep immediate concern for consumers is price. Since most electronics—phones, laptops, TVs, cars—depend on chips, this tariff could quickly translate intoIf companies fail to localize chip production, they'll likely pass theonto customers. That means we could see price hikes in smartphones, EVs, gaming devices, and even home appliances. Industry analysts warn this couldin consumer tech fast. Unlike earlier policies like the CHIPS Act under Biden, which focused on incentives and subsidies, Trump's approach is based on pressure. It forces companies to act—not just say the 100% chip import tariff could accelerate billions in U.S. tech infrastructure, boost job creation in semiconductor hubs, and shift global supply chain priorities. However, some fear retaliation from trade partners or a rise in global tech isn't just a U.S. story—it's a global one. Countries that dominate chip exports—like Taiwan, South Korea, and China—may respond with their own measures. The tariff could intensify trade tensions, impact global production timelines, and force tech companies to diversify sourcing at a massive the U.S. market being one of the most lucrative for tech, no brand can afford to ignore this shift. We're already seeing a surge in factory announcements, investment deals, and reshoring plans, and it's just the has proposed a 100% tariff on all imported semiconductors unless companies are building or operating facilities in the companies manufacturing or committing to manufacture chips in the U.S. will be exempt from the new tariff.
Time of India
2 hours ago
- Time of India
Telangana seeks Central aid for industrial parks in Madhira constituency
Hyderabad: Deputy chief minister Bhatti Vikramarka and industries minister D Sridhar Babu on Wednesday met Union MSME minister Jitan Ram Manjhi in New Delhi and urged him to extend Central aid for two industrial parks in the Madhira constituency, and 119 MSME parks in all the assembly constituencies in Telangana. The Telangana govt sought prior approval from the Centre to submit project proposals under the MSME-CDP (Cluster Development Programme) for financial assistance to develop these parks. "Proposals have been submitted to set up industrial parks in Yendapally (Madhira mandal) and Remidicherla (Errupalem mandal) in Khammam district. Plans have been drawn up to develop these parks in 85 acres and 60 acres, respectively. The locations are strategically significant due its proximity to NH 65 (Hyderabad–Vijayawada corridor) and have excellent connectivity to nearby towns, railway networks, and ports," Bhatti informed the Union minister. You Can Also Check: Hyderabad AQI | Weather in Hyderabad | Bank Holidays in Hyderabad | Public Holidays in Hyderabad "The development of these parks would bring industrial opportunities to local youth, especially from SC communities. These parks are being designed to support various manufacturing sectors and are expected to generate at least 5,000 direct and 15,000 indirect employment opportunities," Bhatti further said. "We are expecting Central financial support under the MSME-CDP scheme. The MSME parks will include hostels, kitchens, toilets, testing centres, and other common facilities. Business development, product innovation, and market strategy services will also be made available. Support will be extended to women-led enterprises through the Streenidhi scheme, providing loan assistance to empower such units and expand livelihood opportunities for women," Bhatti said. Currently, under the MSME-CDP scheme, the Telangana govt is already implementing 25 projects with the support of the Union MSME ministry. These include industrial parks, flatted factory complexes, and Common Facility Centres (CFCs), all of which are playing a key role in strengthening the MSME ecosystem in the state. Telangana is seeking Central assistance under the relevant schemes to establish dedicated MSME parks in each Assembly constituency. Through these progressive initiatives, the Deputy CM and industries minister expressed confidence that Telangana will emerge as a key contributor toward India's vision of achieving a $30 trillion economy.
Time of India
4 hours ago
- Time of India
Stricter rules likely to curb substandard steel imports
Live Events (You can now subscribe to our (You can now subscribe to our Economic Times WhatsApp channel India plans to tighten the advance authorisation norms for steel imports, aiming to curb large-scale inflows of substandard inputs. According to officials aware of the development, instances of non-Bureau of Indian Standards (non-BIS) compliant steel being sold in the domestic market are being flagged. These substandard products are said to be imported duty free by export-oriented units under the advance authorisation."The imported steel, meant for export production is often sold in the domestic market, resulting in revenue loss for the government and putting domestic steel makers at a competitive disadvantage," the official told currently levies an interim 12% safeguard duty, and a 7.5% basic customs duty on steel imports. There is also a Quality Control Order (QCO) which bans the import and sale of non-BIS steel in the advance authorisation scheme allows exporters to import raw material at nil duty and without QCO regulations with an export mandate that needs to be met within 18 months."Eighteen months is too long, and traceability of non-BIS compliant steel is a matter of concern since it is making its way to the domestic market and not being used to make exported products," the official centre is now said to be considering lowering the Export Obligation Period (EOP) of advance authorisations to six months in a bid to ensure the substandard steel is not tightening the Advance Authorisation regime, India is also planning to withdraw an exemption from the QCO granted to domestic importers under the scheme. This too is aimed at plugging misuse of the scheme, officials to Fitch Ratings, India is also expected to extend its 12% safeguard duty and even revise the duty rates upwards as industry conditions worsen globally. "Governments around the world have been raising barriers to steel imports in recent months," Fitch said while adding India has introduced other non-tariff measures to protect domestic producers in recent steel imports fell by 16% annually in the first half of this calendar year. "Barriers to steel imports should benefit domestic producers," Fitch added.
