Sale of apartments in Ahmedabad has reduced
As per the report of the sale registration in Ahmedabad, it is found that the real estate industry in Ahmedabad seems to be going through a bad phase.
Property sale deed registration in Ahmedabad has decreased by 20% in last one year compared to previous year.
According to the real estate builders of Ahmedabad, this reduction of sale is due to the hike in jantri rate, impact of global economic slowdown and higher interest rate of home loans.
The city witnessed registration of 80,103 sale deeds in 2011-12 compared to 101,803 registrations last year.
It is also observed that the sale of apartments in Gota and Ranip areas have been increased as a number of residential schemes for middle income group buyers were launched in 2010 and the developers handed over the possessions of these units to customers during the year.
Even though number of sale deeds have fallen, state government’s income from stamp duty has gone up from Rs 687.37 crore in 2010-11 to Rs 698.3 crore in 2011-12. that is only because of the rise in the jantri rate in Ahmedabad.
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Local real estate Realtors are not interested in new projects
Source: Daily Bhaskar
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