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What drives the price in RE

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Dear Members,

trying to understand the reasons - what drives the increase in the BSP of affordable appts along e-way. for example the BSP was 2805 on 20/11/2010 for 12th floor for karnam greens and now it was 4310 (on 20/11/12) for same floor. A increase of 1505 in just 2 years :bab (45):

Pl let us know the potential reasons for such steep increase.

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