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GROUND REPORT: Today a friend and I set out on a mission to map the vacant commercial spaces in Koramangala, Bengaluru.
Koramangala is the Manhattan of Bengaluru. This is where most tech start-ups like Flipkart took birth.
We tagged 132 establishments as you see below. (1/12)
Koramangala is the Manhattan of Bengaluru. This is where most tech start-ups like Flipkart took birth.
We tagged 132 establishments as you see below. (1/12)
Koramangala is a posh residential/commercial suburb of Bengaluru.
This is where billionaires like @NandanNilekani, @kris_sg, @_sachinbansal, Binny Bansal and @kiranshaw lives.
Unicorns Infosys, Biocon, Flipkart and many more were started here. (2/12) https://www.timesnownews.com/business-economy/companies/article/the-kismat-connection-that-binds-flipkart-infosys-biocon/227342
This is where billionaires like @NandanNilekani, @kris_sg, @_sachinbansal, Binny Bansal and @kiranshaw lives.
Unicorns Infosys, Biocon, Flipkart and many more were started here. (2/12) https://www.timesnownews.com/business-economy/companies/article/the-kismat-connection-that-binds-flipkart-infosys-biocon/227342
My friend Abhinand and I were living in Koramangala from the past 16 years. We've never seen such a distressing sight in the streets of Koramangala.
We logged these places and took pictures. We've counted 132 just by driving through the main roads. (3/12)
We logged these places and took pictures. We've counted 132 just by driving through the main roads. (3/12)
This is the Forum Mall - Raheja Arcade area, Koramangala 7th Block, the most happening place in Bengaluru.
See the distress. So many establishments including showrooms, software companies, eateries, pubs etc. closed down. Literally, blood bath on the streets.
(4/12)
See the distress. So many establishments including showrooms, software companies, eateries, pubs etc. closed down. Literally, blood bath on the streets.
(4/12)
The famous restaurants street of 5th and 6th block starting from Sukh Sagar with around 60-80 restaurants is looking like this.
Most of them shut. Whatever is open are mostly empty.
Imagine the number of jobs and livelihoods lost.
(5/12)
Most of them shut. Whatever is open are mostly empty.
Imagine the number of jobs and livelihoods lost.
(5/12)
80 ft road is the worst hit. Almost every fourth building is vacant. It looks like a ghost town.
Such a disheartening sight to see most of your neighbourhood shops closed forever. (6/12)
Such a disheartening sight to see most of your neighbourhood shops closed forever. (6/12)
Imagine the financial loss just from this area. This is an ad from 8th Block near Koramangala Police Station.
You can assume this ₹115/sqft as the average rent in Koramangala. I'm seeing this ad from May-June. (7/12)
You can assume this ₹115/sqft as the average rent in Koramangala. I'm seeing this ad from May-June. (7/12)
We've not covered all the by-lanes of Koramangala. We didn't include residential properties. We didn't include closed establishments without a TO-LET board. These are places what we could see driving around. The count will be manifolded if we add all that. (8/12)
We've observed that many big builders haven't put a "TO-LET" board. For example, The Shopper's Stop next to Forum Mall is empty and they don't have a "TO-LET" board.
Now extrapolate it to the entire city and country. Can anyone estimate the loss?
(9/12)
Now extrapolate it to the entire city and country. Can anyone estimate the loss?
(9/12)
The situation is no different in other areas. This is the Pizza Hut, Domlur right in front of Embassy Golf Links Tech Park.
(10/12)
(10/12)
We've heard that the Accenture Building in RMZ Ecospace, Bellandur is being vacated. They have laid off 25,000 employees globally. (10/12) https://economictimes.indiatimes.com/tech/ites/accenture-to-lay-off-25000-employees-indians-set-to-lose-jobs/articleshow/77759818.cms
So many big and small dreams are being shattered.
Poor people who came to the city doing all the small-jobs like House-Maids, Security Guards, House-keeping, Drivers, Construction workers etc. are completely destroyed.
(11/12)
Poor people who came to the city doing all the small-jobs like House-Maids, Security Guards, House-keeping, Drivers, Construction workers etc. are completely destroyed.
(11/12)
Fresh Engineers used to flock to the city with the hope of finding a job. Now, I don't know where will they go now. It looks so depressing.
We don't know whether the silicon valley of India will ever be the same again. (12/12)
We don't know whether the silicon valley of India will ever be the same again. (12/12)
