Why Bangalore should look forward to 2012   1 comment

Buying houses will become easier

As the curtains come down on 2011, the coming year brings with it a lot of promise for the realty sector. The real estate industry faced many setbacks in 2011, particularly with the RBI consistently hiking interest rates and the poor performance of the global economy, both having a direct impact on the real estate business.

However, buyers and developers will have something to look forward to and smile about in the New Year. Analysts predict the RBI would soften the home loan rates, which would come into effect by the second half of the year. “The RBI is likely to review and bring down the interest rates in January,” says MR Jaishankar, chairman & managing director, Brigade Group. The move would bring much relief to the sector.

With the property prices largely expected to remain range-bound, with slight negative bias, it could be the perfect time for home buyers to invest, says Aditya Verma, EVP & COO, Makaan.com. “This will give more opportunity to the home buyer to look for his dream house, without the need to worry about a price rise.”

Though the last year was a quiet one in terms of launches, 2012 will buck the trend, as developers are set to announce a slew of launches, particularly in the mid-segment of Rs40 lakh to Rs60 lakh, as well as luxury apartments. Plenty of choice to choose your perfect home! East, North, and South Bangalore are the areas to watch out for in 2012.

Govt may allow FDI to rescue aviation sector

Though the year 2011 marked 100 years of civil aviation in India, there was nothing much to write about the aviation sector.

One of the country’s largest private airlines, Kingfisher, scrapped its Kingfisher Red service, which was connecting smaller cities in the country. Besides this, services of the airline were also disrupted a few times with the ATF suppliers refusing to provide fuel as it had not cleared its dues.

To top it all, Air India pilots also went on strike in April in 2011. These are among the issues which will be under scrutiny in 2012. Passengers will be hoping that the airlines would keep up their promise and ensure that they would not be left in the lurch as they were several times in 2011.

The New Year could also see the possibility of the government allowing Foreign Direct Investment (FDI) in the aviation sector to bail out the bleeding industry, whose bubble seems to have burst after the initial euphoria witnessed in the second half of the last decade.

There is a possibility that the government may allow 24% FDI in the aviation sector.

The New Year will also see the expansion work of the Terminal-1 building at the Bengaluru International Airport. Though its completion is expected only in 2013, a majority of the work would be completed this year itself.

The state government’s dream of building airport in tier-II cities of the state will also be executed during 2012.

India’s defence sector to gain in strength

On the defence front, the year 2012 promises to be one in which home-grown technologies will take a centre stage in securing the future of the country.

Starting with the first flight of India’s first carrier-borne Naval flight aircraft—the Light Combat Aircraft (LCA) Navy, which is expected to take place in Bangalore in the very first week of the New Year—a number of indigenous efforts will be put to test in 2012.

Among them is the testing of the inter-continental ballistic missile, Agni-5, in February. The Agni-5 has a range of 5,000 kilometres, which means it can reach many of China’s major cities. Possessing this strategic capability will mean that India will be on par with its bullying neighbour as far as missile technology is concerned.

The suspense over who will emerge the winner (between the two short-listed vendors, the Eurofighter and Dassault’s Rafale) in the mother of all defence deals will be in public domain in the first week of 2012. The deal for medium multi-role combat aircraft (MMRCA) is worth about $10.4 billion.

The signing of the deal and the subsequent induction of MMRCA into the Indian Air Force would mean that apart from boosting air superiority over its adversaries, the loss of life and aircraft would be minimised as many obsolete aircraft would be phased out.

A controversial subject like the revoking of the Armed Force Special Powers Act in the trouble-torn Jammu and Kashmir and greater transparency in the numerous multi-crore defence deals along with higher efficiency of the defence Public Sector Undertakings would be among the topics of discussion in 2012.

Metro is likely to gain in strength

With Namma Metro and the BMTC working together in 2012, there seems to be a chance that more people would take to public transport.

Towards the end of 2011, the launch of Namma Metro saw enthusiastic response from Bangaloreans to the Metro. Although the initial euphoria surrounding it made it hard to predict the number of people who would actually use it for commuting purposes, rather than for joyrides, Metro’s ridership in its second month suggests that at least 2 lakh people, on an average, use the Metro regularly.

This numbers will increase as the Metro works towards providing better parking facilities at its Baiyappanahalli and MG Road stations. With the possibility of the Peenya-Swasthik line also opening towards the end of this year, more people are likely to take up the Metro for commuting.

The BMTC also has its fleet of feeder services ready. With the response to feeders for the Metro being tepid, the BMTC may have withdrawn a major chunk of its services, but as the Metro lines are completed, the number of these will only increase.

With talks about a bicycle lane coming up in Jaynagar and ATCAG, too, putting up three bicycle stands along MG Road, more people are likely to use bicycles to commute at least short distances.

City colleges collaborating with foreign varsities

The year 2012 will see introduction of new innovative courses for the students.

One of the most anticipated additions this year will be the introduction of subjects such as nanoscience and nanotechnology in science, engineering and medical courses. Announced by education minister VS Acharya in 2011, the course will also be an addition to pure science courses. However, the minister made it clear that it will take an entire year to work out the finer details regarding the course work, so chances are that the course may not make it into the syllabi of the coming academic year. Nanotechnology is currently being touted as the answer to the planet’s imminent energy crisis by top scientists like Prof CNR Rao, the scientific advisor to the prime minister. Another trend to watch for in 2012 is collaborations with foreign universities by city colleges. M Jayaramu, director of PG studies in Tumkur University, had earlier announced that to create a research-based university, there would be several collaborations with universities from the United States, Europe and the United Kingdom.

Even deemed universities such as Sri Devaraj Urs Medical College will be collaborating with universities such as the University of Minnesota, University of lllinois and more. Taking collaborations with foreign universities a bit further are bodies such as the Institution of Engineers (India), which has signed an agreement of cooperation with the Chinese Institute of Engineers.

Grand plans on paper to transform Bangalore

The BBMP has some grand plans for the year 2012. It has set a target to plant about 6 lakh saplings to make up for the loss of the city’s green cover owing to road widening and other development works. Also, the BBMP will develop 301 open spaces into parks, as the revised City Development Plan has reserved 15% open space of the city for developing parks. Work will be taken up to develop 183 lakes in and around the city. Rainwater harvesting is set to become mandatory for houses, government buildings, hospitals, hotels etc, which is expected to alleviate the city’s water woes. Also, work on remodelling drains will be undertaken in 186 critical areas in the city to avoid flooding in rainy season. The project would be taken up at a cost of Rs643 crore; JNNURM is providing the funds. The city corporation is introducing a new garbage policy for better solid-waste management. Also, 16 bio-methane-based plants are scheduled to come up in various places, which will convert garbage into electricity. Further, to ensure that Bangaloreans don’t have to go through a rough ride, the BBMP has procured a GIS-operated pothole-filling machine for its each zone. It is also planning to buy a machine from New Zealand that can reportedly fill potholes in 15 minutes. Also, to alleviate traffic congestion, the BBMP is planning to construct steel bridges at MTR, near Lalbagh, and at Shivananda Circle.


Posted January 2, 2012 by avinash2060 in Bangalore

One response to “Why Bangalore should look forward to 2012

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