Real estate remains dull this diwali
No Comments Sub Category:Delhi-NCR,Realty News,Residential Real Estate Posted On: Nov 16, 2012
Property investments remains dull despite attractive offers and aggressive marketing. The reason for the slowdown in real estate is because of the high property prices and unusual rise in the cost of materials used for construction, says the ASSOCHAM survey.On the eve of festival, there was a growth of only 20 percent compared to the normal average sales per month. Whereas, the developers and investors were expecting 100 percent jump. The survey was carried out by ASSOCHAM in major cities such as Delhi-NCR, Mumbai, Bangalore, Chennai, Kolkata, etc. The survey was able to gather information from 250 property dealers.
Most of the developers complain about the inordinate delays and banks not providing finance for the new real estate projects. The property analysts estimated that demand for property may go down by at least 15 to 20 percent.
ASSOCHAM report said the government should co-ordinate particularly where the demand is more than supply. The projects approval must be done in the given time period and the status of the approvals should be made online to bring transparency.
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ASSOCHAM, Builders, Developers, Government, Investors, Price of land, properties in metro cities, Property dealers, Real estate projects, Realty News
