The real estate market in Bangalore, dubbed as India's Silicon Valley, mirrors the India outsourcing story. The last decade or so saw trees give way to residential towers and steel- 'n' -glass office campuses targeting largely the young and upwardly mobile IT professional, a community that may be close to 5 lakh in the city. 

With the economic slowdown coupled with fears of job losses and pay cuts, the target market has developed a cold feet on house buying, sending the Bangalore realty market on a downward spiral. 
Residential realty market trackers say Bangalore is truly a buyer's market today. Developers are bending backwards to sell their stock by offering price cuts and marketers are seen going overboard with freebies. 

Realty giant DLF came out in the open with an over 30% drop in its upcoming project in Bangalore's Bannerghatta Road from Rs 2,750 per sq ft to Rs 1,800 per sq ft. In fact, DLF also modified the project from row houses to budget apartments. Residential segment major Sobha too is offering across-the-board price drop of 15-22 % in its mid-end range.