It was a gloomy time for one and all during 2008 – 09 and the post effect of the recession brought lot depletion in profit margin in real estate business around the nation. According to the sources of www.propertykhazana.com the situation of Banglore realty market was not any better than the rest of the metros. Selling units has fallen to just half the number as a result of the post recession mainly in the IT dominated sectors. It was recorded around 20 -25% fall at the rate of private spaces in and around the Bangalore. But gradually the market is growing towards the higher sale units not only in the crowd of IT but non IT customers are also making the rise in numbers for bookings at various locations in the city. The city has witnessed highest score of launch during 2010 – 11 since from 2006 – 07 market condition. This year the launching of projects for both commercial and residential purpose has made market a bit faster than it was in the last couple of years.
However the increasing rates of bank interest along with the higher cost of the raw materials has lowed the profit margin among the realtors. It is also found that in some cases the total carpet area of any dwelling has been brought down to a few extents to manage the interest of customers due to high inflation rate. By doing so, realtors are trying to manage both the satisfaction and budget of the customer looking at the higher cost of completion as compared to the previous years. Another reason for higher rates of such project is the sudden outcome of realty market which made difficulty to finance all the projects at a same time by various financial organization of the country. Any how there was a good response from the buyers which led to the sale of around Rs 980 crore against the target of Rs 1500 crore for the entire financial year.
Source: NIMMA BENGALURU
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