Water crisis: Construction ban in Bengaluru may dent realty sector growth

Bengaluru has been at the forefront of real estate recovery in the past few quarters

The real estate sector in Karnataka, which has been facing a slump since four years, may be headed towards another crisis. This is on account of the state considering a ban on construction of new apartments in Bengaluru, for the next five years. The ban is being considered with a view to combat water shortage.

Industry officials say that though they are ready to follow stringent water conservation measures, a blanket ban will not only kill the nascent recovery witnessed of late, but also lead to thousands of job losses.

“A ban on construction will lead to severe job losses, adding to