How would 2013 be for real estate?
Delhi/NCR- As per various real estate experts, the year 2013 has been predicted to be quite strenuous for the industry due to the rising cost of input materials, the labor and the increasing interest rates.
Not just this, the enormously increasing demand of the sector will eventually result in increased property prices.
However, various experts had different predictions about the industry this year. It was stated that few areas in Mumbai and Delhi have been witnessing price rise and will continue to have in the coming years as well. Also these areas have problems which are to be rectified followed by solving the land acquisition issues.
It is felt that there has to be a lenient approach to tackle realty related issues and that the government grant more incentives. Areas with rocketed prices will witness price rationalisation for 2013.
On the other hand most industry experts feel that the year 2013 will fetch positive movement for the secondary market space in areas like South Mumbai, Worli and Bandra regions. However, with meager project completions in this year, there are seldom changes.
Cities like Chennai will witness positive outcome this year due to the undergoing work on the Metro rail, outer Ring Road, Extension of MRTS, etc. Also the current price levels of the residential projects in the city will lead to a stable market for the year 2013. Perhaps there has been a blend of both positive and negative vibes pertaining the realty industry in 2013.
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Delhi NCR, increased property price, Increasing interest rates, Indian real estate market, land acquisition, price rationalization, Real estate experts, real estate in 2013, real estate sector india, rising cost of input materials, South Mumbai
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