Vizag realty ready to soar high
The realty of state may be slowly going down for the people of Seemandhra, but for the realtors there’s no time to be lost. In last 15 days, the sector has seen massive activity with realtors in the Port City stating that the number of enquiries for purchasing property has grown up by nearly 25-30% during the last two weeks after the passing of the bill in Rajya Sabha on 20 February. This will result in the number of buyers to increase when the new financial year starts.
Senior manager (sales and marketing) at Shriram Properties T Ravi Shankar, says, “The interest is definitely visible. There have been quite a lot of enquiries during the last two weeks. People from Chennai, Hyderabad and the US have been calling up. Once certain things related to the special package are disclosed, we can definitely expect the queries to translate into property sales.”
The industry speaks
Mr. Ravi Shankar further says, once infrastructure projects or major educational institutions such as an IIT or IIM are allocated in this region, purchasing will be increased. He also mentioned, that, once the buying spree gets going, prices may also head northwards in the next two months.
Ramesh Reddy, Managing Director at Swathi Promoters, mentioned, that, “There is a substantial increase in enquiries from people in the neighbouring districts as well as some people from Rayalaseema.” He further added, “Enquiries are a good symptom. If 10 people enquire, then one person will purchase. During this month, finalisation of accounts and such aspects take precedence. People also need around one month’s time to pool resources together for purchases. We can see some activity during the next month.”
Source: The Times of India
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