Prices of real estate is expected to surge
A senior executive of an industry chamber expressed his concerns over the issues and told the slightly shocked audience that the property prices will rise in the next few days. Hence his suggestion to everyone was to buy apartments now before the price hike.
There are a lot of speculations behind the reasons which may fuel this hike. Some are stating that due to the poor monsoon the farmers are available in abundance to take up the jobs of construction laborers and hence the developers can get more work done in shorter periods. They can increase the inventory of ready to move in flats and mop up good prices for them.
Some are stating that following the Modinomics wave, the demands have gone up and hence the prices too are going up.
This “advice” accompanied the launch of the Ficci-Knight Frank Real Estate Sentiment Index and rising realty prices was the focus of the discussion that followed.
The index is based on sentiments mainly from the developers and it is possible that the developers want their sales to go up and hence have spread the word of price hike to increase their sales.
The official, who referred to the consultancy as Frank Knight, was also quick to do his bit when it came to praising the current regime too.
The important thing, he added, is that the prices won’t fall since sentiments in the real estate business are a reflection of those in the Indian economy. So it truly looks like that good days are coming up for the industry.
Source- Business Standard
Ficci-Knight Frank Real Estate, Frank Knight, Modinomics, Prices of real estate, Real estate business
