Realty market improving; enquiry levels increase
The realty industry appears to be on the verge of recovery, with the bounce back in economic growth leading to an increase in real estate-related enquiries with realty developers.
Reporting that realty enquiries have witnessed a surge of late, realty developers have also asserted that many of the enquiries have also resulted in property purchases. The revelation by the realty developers about the latest scenario in the industry is an apparent indication of the fact that the real estate sector is set for a turnaround, after a nearly two-year lull.
The evident revival of the realty industry marks welcome news for a number of other industries too; chiefly steel and cement industries, which witness a swing in their fortunes during the highs and lows of the realty sector.
The turnaround of the real estate sector has resulted from an improved buyer sentiment over the last three months; thanks largely to a decisive election verdict, incentives for the housing sector in Union Budget 2014-15, and upbeat projections about economic recovery.
With regard to the improved realty scenario, bigwig developer DLF’s Executive Director Rajeev Talwar said: “The market is improving, there has been an increase in enquiry levels and more enquiries are translating into sales. Even our high-end projects are seeing some recovery.”
Source – Financial Chronicle
