Young bizman dies as Range Rover crashes into railings during test-driving

News Network

March 27, 2019

Bengaluru, Mar 27: The dream of a young Bengaluru-based businessman and his family to own a luxury car culminated in a tragedy. Sagar J Rao, 31, was killed while four others, including his wife and six-year-old son suffered severe injuries as a Range Rover SUV he was test-driving met with an accident in south Bengaluru, on Tuesday.

The incident took place at the Nayandhalli toll gate on Nice Road, near PES College Toll Plaza, Hosakerehalli. Byatarayanapura traffic police suspect Rao, a resident of Padmanabhanagar and a native of Mysuru, was at the wheel of the SUV that was moving at a high speed at the time of the accident.

Rao sustained grievous injuries and died en route to hospital, while his wife Sandhya Sagar, 27, son Samartha S, 6, Sagar's friend Gautham S, 30, and demo car driver Shivakumar sustained injuries.

Police said Rao, who was into interior designing, planned to buy a Range Rover and evinced interested in test-driving the car. A showroom at Roopena Agrahara arranged for a test-drive and sent the demo car to Rao. Shivakumar, was in the passenger seat in the front as Rao drove the car on NICE Road towards Hosakerehalli Ring Road when the accident occurred around 3 pm.

The driver was driving at a high speed and lost his control while approaching a toll plaza near PES College. He veered the car to the extreme left and initially hit a cement block and later the road railings. The car jumped the railings and flipped over several times before landing in a 10-metre-deep ditch,” a police officer said.

Dr Soumyalatha SK, deputy commissioner of police (traffic west), said the injured were rushed to BGS Global Hospital, near Kengeri, where Rao was declared brought dead. “We’ve registered a case and seized the car, which was completely damaged in the accident,” Soumyalatha said.

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Partial lockdown in Mysuru from July 17 to 24

News Network

July 17,2020

Mysuru, Jul 17: Deputy Commissioner Abhiram G Sankar has ordered a partial lockdown in the City of Palaces Mysuru due to the increase in number of Covid-19 cases day by day.

As per the order, the lockdown will be in force from 0600 hours today till 0600 hours on July 24 at N R, Udayagiri, Lashkar and Mandi Mohalla Police limits in the city. In addition, it has decided to lockdown 400 meters from the house where Covid-19 patients have died.

The order further states that all the religious gatherings are prohibited and only parcel service is available to hotels. Movement of vehicles is also prohibited but in emergency cases, it may be allowed. Employees and people on essential services can go to work after producing their ID cards.

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Real estate remains preferred asset class for investors amid covid, claims NAREDCO

News Network

June 18,2020

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.

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