When you hear of Bangalore, you think of Information Technology, Outsourcing, Silicon Valley of India etc. Though all of these have propelled Bangalore specific and India in general into the global economy, this has come at a price.
A recent article in Wired Magazine highlights how all this growth in Bangalore comes at a price. Most of us who have been to Bangalore and have seen the real estate prices skyrocket in the last decade have suspected this all along. What am I talking about? The involvement of underworld and the mafia in the commercial and residential real estate market. Here is a brief excerpt from the article
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But there's a dark side to Bangalore's rocket ride. City officials—at least those who aren't taking bribes—struggle to reconcile the gleaming promise of the information economy with the gritty reality of systemic corruption, a Byzantine justice system, and a criminal underworld more than willing to maim and murder its way into control of the city's real estate market. As tech companies gobble up acreage, demand has pushed prices into the stratosphere. In 2001, office space near the center of town sold for $1 a square foot. Now it can go for $400 a square foot.
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Read the full article at Godfather of Bangalore
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