Tag: CREDAI Mangaluru

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Mangaluru IT Park tender sees no bids, deadline extended

MANGALURU: The proposed ₹135 crore IT Park in Mangaluru has encountered further challenges, as it remains unable to attract bidders, prompting the government to extend the tender deadline from May 29 to June 19. Sources from the Karnataka State Electronics Development Corporation Limited (Keonics) indicate that there may be further extensions, as there are currently no prospective bidders for the project. During the second round of bidding, Keonics and Credai Mangaluru noted that three interested stakeholders initially engaged but ultimately withdrew, citing several constraints within the tender conditions. This second bidding opportunity was reopened after the first round saw no…

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Coastal Realty Faces 3BHK Apartment Shortage

MANGALURU: Real estate professionals along the coast are raising concerns about a growing disparity between the expectations of homebuyers and the offerings from developers. The most significant shortfall is evident in the demand for 3BHK apartments priced at Rs 1 crore or below, although certain segments of 2BHK and premium properties are witnessing an oversupply. DB Mehta, president-elect of CREDAI Karnataka, noted that buyers have shifted their preferences towards larger homes post-pandemic. However, new developments have not aligned with these preferences. “The most pronounced mismatch exists in the sub-Rs 1 crore 3BHK segment, where demand remains robust, but the inventory…