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Real Estate Market is Subdued!
Posted on: 27/May/2014 4:45:27 PM
Despite of high count of enquires; still the real estate market across the country is in traction, as per the Colliers International, a real estate consulting company.
Major cities like Delhi, Mumbai, Noida and Gurgaon shows only a limited sale dealings during the initial quarter of 2014, said Colliers International.
On the other hand, it has been witnessed an active market and launch of new projects in Chennai, Bangalore and Pune.
Building developers offers many redeem schemes and tenure-associated payment policies to facilitate more comfort zone for the buyers.
Together with the new government, the business poise is attaining energy; thus we expect a hike in real estate sales in the upcoming quarter, said the company in a press meet.
A report pointed out that, the restricted engagement by the multinational organizations and embassies, the rental market decelerated in Mumbai and Delhi.
As tenants has become more cost attentive, land owners has to negotiate down their rental charges. Both the cost optimization and falling demand from Corporations have provoked land owners to descend their rent prospect so as to get hold of the tenants, said Colliers.
During this quarter of 2014, rental charges for the chief residential possessions observed a drop in the span of 6 to 10% in Delhi and 1 to 7% in Mumbai, pointed out by Colliers.
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