The recent water crisis in Chennai was a wakeup call for the real estate sector, followed by the Karnataka government’s proposal of a five years’ ban on construction of new flat in the city. “There are enough apartments being built in the city but while selling them there is no assurance of providing drinking water or other basic amenities,” said G Parameshwara said, deputy chief minister of Karnataka.
The state, like neighbouring Tamil Nadu, has been reeling under a severe drought due to no rain and drying up of rivers and reservoirs. “Due to water scarcity, most of the apartment dwellers are dependent on water supplied through water tankers. This is resulting in water-borne and skin diseases. Hence, deliberations are going on, to ban the construction of apartments in Bengaluru for the next five years,” Parameshwara said. Naturally, it sent shock waves to the developers, as Bengaluru is among the top performing realty market, both for residential and commercial real estate