Bangalore: New projects which have been launched are being withdrawn due to poor response. Sobha’s luxury villa project in Mysore – Sobha Scarlet and Keppel Purvankara’s project on Kanakapura road, Elita Horizon are two projects which are now being put on the back burner and will be re-launched at an appropriate time. (Source – Times of India, Bangalore edition dt 19.11.08)

While many other projects are on the back burner, developers who had launched new projects in the last six months and sold some units are facing a dilemma of either going ahead in rough markets or to return back the deposits and scrap the project all together.

All eyes are on whether the govt would come out with a bail out package for the beleaguered construction sector. Govt’s proposal to help only projects with sub 20 lakh pricing has come as a disappointment to many as that does not cover most projects in metros like Bangalore.