South Indian realty observes stable demand
The Associated Chambers of Commerce and Industry of India (Assocham) has reported that real estate demand has remained moderate. Even the festive season’s special offers failed to bring in husky demand for properties.
The survey was carried out in major cities like Delhi-NCR, Mumbai, Bangalore, Chennai, Kolkata, Ahmedabad, Hyderabad, Pune, Chandigarh and Dehradun and gathered information from 250 property dealers, around 40 developers and builders.
Northern real estate market has witnessed around 20% rise in demand whereas a 100% upsurge was being expected. Factors such as rise in cost of construction materials, project delays and labour scarcity have altered the real estate scenario. By March 2013, the property demand is expected to further slant by 15-20%. However, it is not the same in South India. Particularly, the Karnataka market differs highly from that of the north.
Realty experts revealed that demand is more stable in South than in North. In South, people do not merely buy properties for investment purpose. Also in South, people do not rush to buy properties on the eve of festivals. South is more of a buyer-driven market which is the main reason for the property demand to stand firm.
ASSOCHAM, Bangalore, Cement, Construction materials, Delhi NCR, Developers, Festive season, Investors, Karnataka, labour, Mumbai, Project Delays, Property dealers, Real estate demand, Real-estate market, Realty experts, South India
[...] South Indian realty observes stable demand [...]
[...] South Indian realty observes stable demand [...]