Demands in “religious towns” do not suffer even in a slowdown
With the massive slump in the real estate demand in Tier 2/3 cities, the sector had been bleeding profusely. The developers who had earlier planned the projects in smaller towns have now stalled these. However, the cities with some “spiritual connect” are experiencing steady demand even in the days of slump. In the words of Mr. R.K Arora, CMD, Supertech, whose group has big-ticket commercial projects coming up in Haridwar, “There is no major slump in the demand in religious towns. In fact, on the contrary there is an annual increase of 15-17 per cent for such properties.” Thus, it is no brainer as to why some of the biggest developers are banking big on religious destinations like Haridwar, Rishikesh, Mathura-Vrindavan, Ajmer-Pushkar, Dwarka, Varanasi, Allahabad, Shirdi etc. Users looking for a second home and investors looking for rental returns and capital appreciation are driving the demand here.
Source: The Tribune
demand of properties in religious towns, increase of property demand in spritual cities, real estate demand in religious town, religious destinations shows growth in real estate trend, spiritual connect cities shows growth in real estate demand
