I am not money bag of JD(S), says BM Farooq who owns assets worth Rs 778 crore

Bengaluru, Jun 18: Real estate continues to be a preferred asset class for investors amid the uncertainty emerging out of the pandemic, according to a report by National Real Estate Development Council (NAREDCO) and Housing.com.

Titled 'Concerned yet positive - The Indian Real Estate Consumer (April-May 2020)', the report showed that the real estate consumer remains positive with regard to the economic scenario and income stability for the coming six months.

"Real estate (35 per cent) is still perceived as the preferred mode of investment, followed by gold (28 per cent), fixed deposits (22 per cent), stocks (16 per cent) and homebuyers are likely to slowly return to the market in the coming six months," it said.

Price-points of residential realty have remained muted for the past few years, but are still a key deterrent, with the perception of being still unaffordable, according to nearly half of the potential homebuyers surveyed, who are currently staying in rented accommodation.

A majority of respondents surveyed (73%) comprise 'first time homebuyers', who are looking to buy a 'ready-to-move-in-house' for end-use and are from the age group of 25-45 years. While 60% of respondents opined that for the next six months, they would prefer a ready-to-move-in property, 21% said they were okay with a property with a delivery timeline of maximum one year.

The survey was conducted in April and May 2020, through a random sampling technique for a fair representation across regions. The insights presented in the survey represent the view of more than 3,000 potential homebuyers.

Bengaluru, May 22: Karnataka Congress delegation met Chief Election Commissioner, Dr B Basavaraju in Bengaluru, urging him to guide Karnataka Government to conduct local body elections and not to allow State government to nominate their party men to the local bodies.

The delegation was led by Congress leader Siddaramaiah and Karnataka Pradesh Congress Committee (KPCC) president D K Shivakumar.

"They (State government) wants to postpone the election, they have a lot of other provisions. We are demanding to protect the law, the government doesn't have the power to interfere in the system. We will not allow the state government to nominate their party men.

The CM and his entire team is responsible for this, they are killing the democracy and Panchayati Raj system of the State," said Shivakumar while speaking to the reporters.

The local body elections were scheduled to take place in the month of March or April, which were postponed in view of the COVID-19 crisis.

However, the date for conducting the local body elections has not been decided yet.