Bengaluru Real Estate Market Under Pressure: CEO's Viral Post Raises Red Flags
A sharp online debate has erupted over Bengaluru’s real estate market after a co-founder and CEO criticised people buying new flats in the city, calling the move financially unwise and pointing to what he described as desperation among developers.
Abid Hassan, a co-founder and CEO, took to social media platform X to air his frustration, claiming Bengaluru’s real estate market is under pressure. He alleged that developers are aggressively pushing sales by violating Do Not Disturb (DND) regulations.
“If you are buying a new flat in Bangalore, you are a complete dummy. Bangalore real estate is so in trouble,” Hassan wrote. He said that despite having DND activated, he continues to receive multiple automated sales calls daily from real estate developers. “They are so desperate that they are violating DND to sell. I’m getting 2 to 3 automated calls a day announcing flats,” he added.
His comments quickly gained traction, resonating with many social media users who said they faced similar issues with spam calls from property sellers.
The post triggered mixed reactions. While some users agreed that frequent cold-calling reflects stress in the market, others argued that aggressive marketing does not necessarily mean prices will fall. One user said that despite repeated calls, developers are unlikely to lower prices in new projects, especially those launched by large builders. Another shared an example of a 3BHK apartment in a small under-construction project being quoted at Rs 3 crore, calling the pricing unrealistic.
Some users also pointed out that spam calls are not limited to real estate and are common across sectors such as banking, insurance, and interior design.
Concerns around inflated prices were echoed on Reddit, where a Bengaluru homebuyer questioned the pricing of new residential launches. In a post that drew several responses, the user said many properties appeared “ridiculously overpriced,” even among reputed builders. Several commenters agreed, suggesting that branding, amenities, and location hype are being used to justify sharp price hikes, often beyond what average buyers can afford.
The debate highlights the tension between the high demand for housing in Bengaluru, a tech hub with a rapidly growing population, and the perceived overpricing by developers. While the city continues to attract investment and new residents, the affordability of housing remains a significant concern for many. Hassan’s post has brought these issues to the forefront, sparking discussions on the sustainability of the current real estate trends in Bengaluru.
