Indian real estate facing a recession trend
The real estate is right now on a recession trend and the same scenario is likely to continue in 2012.
With the recession hit, the real estate development authority has decided to stop the land auctions from next year.
It has been learnt that due to downfall in real estate market, since three years Mumbai Metropolitan Region Development Authority (MMRDA) has not leased out their lands in the Bandra-Kurla Complex (BKC).
This sets a best example for the down ward trend India is witnessing in the real estate sector.
Source: Daily News Analysis
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