Bengaluru Real Estate: CEO Blasts Buyers of New Flats, Citing Market Troubles
A co-founder and CEO has ignited a heated debate online after labeling anyone purchasing a new flat in Bengaluru as a 'complete dummy.' In a tweet, he highlighted the dire state of the city's real estate market, pointing to the desperate tactics employed by developers, who are allegedly violating DND (Do Not Disturb) registries to promote sales.
“Anyone buying a new flat in Bangalore is a complete dummy. Bangalore real estate is so in trouble,” Abid Hassan wrote on X. He further elaborated that he receives 2-3 spam calls each day from developers, even though he has a DND registration in place.
“They are so desperate that they are violating DND to sell. I’m getting 2-3 automated calls a day announcing flats. Disclosure: Yes, I’m screwing them for spamming me,” Hassan added.
The tweet sparked a range of reactions on social media. One user suggested, “Next time, ask them whether they have ever heard of making 1 crore from 10,000 in a month and introduce yourself as Abid from Sensibull, an option trading platform. They will block you.” Another commenter remarked, “Same. I told them to call when they're ready to sell at ₹8,000 per square foot. That time will also come when the recession hits, and people become desperate.”
A third user shared, “Saw an apartment in a small under-construction building. A 3BHK was quoted at 3 crores.” A fourth user added, “This doesn't make any sense. Who doesn’t violate DND? I get 10+ calls easily every day from banks, insurance, and interior designers. Whether they are desperate or not, they will not sell below current prices (inflated) ever. More so in a newly launched project.”
In a separate Reddit post, a homebuyer questioned the inflated prices of new launches in Bengaluru. The user wrote, “I have seen a score of properties in the last few weeks, and while I feel some are overpriced, I feel some are ridiculously overpriced. I am listing only Cat A builders as I visited only them and not to offend anyone.”
Several Redditors agreed, remarking that some of the new launches are indeed “ridiculously overpriced.” The discussion highlights the tension between developers desperate to sell and buyers skeptical of inflated prices, reflecting the broader challenges in the Bengaluru real estate market.
The CEO’s comments and the subsequent social media reactions underscore the growing concerns about the stability and fairness of the real estate market in Bengaluru. As the debate continues, potential buyers and industry stakeholders are left to navigate a landscape marked by uncertainty and contentious practices.
