Chennai, Bengaluru land prices rival NYC due to corruption: Vembu

Sridhar Vembu said Chennai and Bengaluru land prices rival cities like New York, despite the latter having higher per capita GDP. Vembu linked high prices to corruption in real estate, building approvals, school regulations, and hospital compliance, arguing that these factors have pushed housing, education, healthcare, and consumer goods costs far above levels justified by India's per capita GDP.