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Posted on November 28, 2008 by Aakriti Bhargav | Posted under Investing
Real estate slow down in india
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Bangalore Real estate slow down As realty business in Bangalore has been hit by global financial crisis because of this uncertain condition in Indian equity market and property prices builders have come in formidable situation .The condition is that approximately 400 flats or more are still vacant despite of advertisements .And the situation is same with may top builders of country. Many builders' developers said they have faced a drop in new projects as compared to last year because of which condition has become worse in the market. Hyderabad Real estate slow down Because of Realty business is facing a slow down developers have decided to launch special schemes to attract buyers like launching special incentive prices etc. Also prices which were at some time had gone up are now cooling off because of which there is low growth rate. There are many factors that have contributed to the present scenario and may small buyers have backed out from the scene because of high interest rate, increase in input cost and strict rules. India's largest real estate company DLF which has built may commercial and residential projects has announced that they will make high end luxury apartments at affordable prices in Hyderabad after seeing IT and real estate slow down. Real estate slow down in Delhi Delhi/NCR has also been badly affected with this realty slow down .Some real estate developers or agents have shut down their business and switched to other business because of this slowdown as it was being difficult for them to survive in these conditions. Real estate slow down in Mumbai Mumbai Real estate is a very large market with many Top builders and developers under its belt. But there also Developers have to cut down their prices for new homes for sale as condition of market has still not improved yet. As Mumbai has a large market for supply of high-end apartments as compared to other cities still there is a fear that of oversupply as many buyers have backed out. This may be the current situation of Realty business in major metropolitan cities but there was also a time when a handsome salary package of six figures meant a home in the heart of metropolitan city .But the property boom turned down this dream of many people .Now we can say that only rich people are finding a home for themselves in theses metropolitan cities. With trembling condition of sensex and liquidity scare in banking sector the real estate industry has to come up with ways for attracting buyers. But sources are saying that this is a temporary condition and real estate developers are hoping the conditions will improve soon About The Author: Neha Chawla writes on behalf of 99acres.com,which is an internet portal dedicated to meet every aspect of the consumers needs in the real estate industry. It is a forum where buyers, sellers and brokers can exchange information, quickly, effectively and inexpensively. At 99 acres, you can advertise a property, search for a property, browse through Bangalore Real Estate , Hyderabad Real estate , build your own property Microsite, and visit other Indian and International sites. |
Tags: REAL ESTATE, PROPERTY, REAL ESTATE INDIA, PROPERTY BROKER, REAL ESTATE BROKERAGE, APPARTMENTS, APARTMENTS, HOUSE, BUY HOUSE, PROPERTY INVESTMENT, REAL
