Property market facing a bad phase
Property market, which was at its peak till about three years back in Punjab, is going through its worst phase for the past 18 months. Market watchers in Ludhiana, that is considered the industrial hub of the state and prime real estate location, claim that almost 60 percent of those, dealing in properties in the state have quit the business all thanks to the state government’s complicated policies, due to which the property business is at its worst today.
Those dealing in real-estate for the past several decades maintained that though there was an overall slump in the market, still states like Haryana, Uttar Pradesh, Gujarat and Madhya Pradesh had benefitted as investors from Punjab had moved there due to the “friendly” real estate policies of the state governments there.
The president of Ludhiana Colonisers and Property Dealers Association Kamal Chaitley said that due to the non-friendly policies of the state government, the real estate business had come to a standstill in Punjab.
Although it is being expected that the scenario might get some change and probably it would not remain the same as it being driven now.
Source: The Tribune
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