Here is what I heard from one of the agents who showed me a lovely studio cottage on a 4800 sqft plot in GlenMorgan:
"The last deal in Dec 09 went for Rs 1400 per sqft."
Now if you visit this place, the proximity to ITPL will leave you shocked. Merely 1.5 Kms away, Forum Value mall is mere 3 kms. But this entire area is literally a dump. There are barely decent motorable roads to the layout. No street lights. No habitation. Stray dogs and occasional construction labourers on bicycles are the only company on the roads. Inside the layout is home to like 3 families and 2 vacant humongous villas. Prestige has rid their hands off this property and failed to construct even proper tarred roads. The club house lies barren and unmaintained. You can still see the hall marks of a piece of amazing residential layout lying waste here! But.. and thats a big but.. if the BDA does manage and maintain this area, the place will see a correction to prevalent rates of around 2500-3000 Rs per sqft. And who knows more if the no of residents in the layout increase and the society becomes better maintained.
From what I have seen, it will be a security issue for you, your children and elders to even attempt to get out of the complex without a car. No auto rickshaw will drop here for sure or just might by charging double!
It has a BBMP approval and the plot I visited was already registered. So no legal issues I suppose. But the lack of proper accessibility and low enthusiasm from the owners to build and also low response from the buyers have left this purchase in a grey area. But owning a 4800 sqft plot merely minutes ride away from ITPL is a big draw. I might go for it I guess
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