My Thoughts !

Prestige is one the biggest real estate promoters in Bangalore. They have been operating for a long time and have always created posh residential and commercial buildings. I guess their biggest project is Prestige Shantiniketan, which is right next to ITPL. It spawns more than 100 acres. Its a mini township project and has both residential & commercial buildings, a huge swimming pool, Radission hotel, Forum mall, everthing you can think of. Its under construction for a very long time. Yesterday evening, when I was coming back to home from office, there was a huge crowd in the road. I first thought it might be an accident, but it turned out to be the crowd looking at one of the buildings, which collapsed. I thought this is going to be a big buzz, but when I saw the newspapers this morning, there were no enough news except in The Hindu & Times of India. From the news, they claim that there was some work going on in the top floor and it collapsed first. Then few minutes later, due to the weight of the collapsed floor, the floor below that collapsed. And then the one below. Finally all the floors collapsed and it took around an hour, so every worker in the site were miraculously escaped. Only four got injured, that too because they fell down while running away from the site. When police arrived at the site, all the 100+ workers and engineers were already taken to a "safe place". This includes the injured persons, who got treated in near by hospital as out patients. Even before preliminary investigations begun, the Prestige group says that there were no damages to the super structure and no loss of life. The first one is a lie, as I can visibly see at least 3 pillars in a bent position. You can see one of the pillars in the below image from The Hindu:

The second one also could be a lie, because I don't believe that only 100 people will be working in that 100 acre project. Now this raises few questions. Why were all the eye witnesses removed from the place immediately. They were able to find the reason and blame the Malaysian company as soon as the building collapsed. They never did any investigation. How did they arrive at the decision. Now that we know that if a contractor gives a product, no matter the quality is, they will simply use it. There is absolutely no quality control. What about the buildings which are not collapsed? They might collapse as soon as someone move in?

Its not just the building that collapsed. Its the trust on the Prestige Groups that is collapsed. I guess it will be tough for them to sell any more high rise buildings. The ones that are already sold out, might be coming for a resale at a very cheaper prices and there will be no takers. This will propagate to other high raise buildings as well.

Irony of this is looking at the site plan, they have named this building as "World Trade Center, Tower B"