The Non-stop rains in this week have caused a serious waterlogging in many locations of Bengaluru comprising the CBD, Sarjapur Road, HSR Layout & regions around the ORR. This becomes as another remainder of the recurring infrastructural challenge of the tech city.
In the year 2022, Bengaluru had one of the most troubling rainfall events in its recent history where more than 130mm of rain fell in a duration of 12 hours and made the city covered in knee-deep water for several number of days.
Very next year, the city witnessed 71.2 mm of rain ehich caused some of the main roadways of the city to become blocked again.
Regardless the problems with urban floods, the real estate prices of Bengaluru have decreased rarely since the year 2022. Square Yards given the statistics that showed an surge in the average property price per square foot in Yelahanka from Rs.8,635 in Q3 2022 to Rs.8,750 in Q4 2023. The, in the period of Q3 2023, it hit to Rs.8,900 and in Q3 2024, it hit even gerater to Rs. 9,060.
Comparably, between Q3 2022 and Q3 2024, the average property price in Koramangala, an upmarket residential and commercial neighborhood in Southeast Bengaluru that is similarly prone to flooding in the IT capital, increased by 10% to ₹19,150 per square feet from ₹17,422.
The average rentals in the two neighborhoods for a typical 1,000-square-foot apartment showed a similar tendency.
Responding to this, Shantanu Mazumder, Executive Director, Bengaluru, Knight Frank India says, “Typically, these kinds of flooding scenarios pop up 1, 2 or 3 days in a calendar year. So it is a short lived problem”.
Further he points out, “Property owners in the affordable segment usually live with the problem, because even if they want to rectify the problem or engage in some re-engineering, there is a cost involved. For them to put in that kind of cost, they would think twice”
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