Real Estate market has dropped in the present year
The real estate market in India has been witnessing the churn in the last six months of the year and the first half of the year 2014 has not experienced any promising development from most of the developers. The report was given by a survey conducted by Proptiger which is a real estate advisory service provider.
Most of the projects have seen delayed and new launches that have come to a complete stand still. The data has shown that the drop has hit some of the erstwhile hotspots in the construction business apart from the prices falling. Mumbai and Noida have been experiencing most of the unsold inventory among all the key metro cities.
Mumbai and Gurgaon lead the most expensive unsold inventory list which is estimated to an amount of Rs 1 crore. The survey has been conducted in Noida, Gurgaon, Mumbai, Pune, Bangalore, Chennai, Kolkata and Ahmedabad.
The property market in NCR has come down in comparison to the last year. The launches have come down by around 50 percent and also the sales volume has declined by around 22 percent in the first quarter of the year 2014 in comparison to the year 2013.
Source: The Times of India
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