Ghaziabad realty slips due to economic downturn
Ghaziabad real estate has plummeted by more than 10 per cent, as an outcome of the economic slowdown. Builders and developers are unable to reduce the ever increasing input costs which further lead to a hike in equated monthly installments (EMIs).
Along with rising input costs and EMIs, other factors such as rising interest rates, higher land rates, non-availability of funds have also pulled down the realty sector.
Though there is a huge fall in the demand for properties, the prices of the properties remained constant. Ghaziabad has been offering many affordable housing projects. It is a kind of relief to buyers that the prices have not been raised despite the rise in input costs.
But there is a ray of hope that the realty sector will flourish again in Ghaziabad. The developers believe that the sector will definitely yield profits in the coming future.
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Source: The Economic Times
Builders and developers, Buyers, Economic slowdown, EMI, equated monthly instalments (EMIs), Funds, Ghaziabad, increasing input costs, Interest rates, Land rates, Realty sector
