As per to the sources saying @ the www.propertykhazana.com, Bangalore realty segment has been impacted by the global financial recession and is in an atrocious condition. A segment that was on high on the economic blast is now loosing its ground by the economic downturn and is missing a lot of developers in the dodge even if the customers wait for the completion of ventures. The unexpected slump from the last 2-3 months has not only hard-pressed the developers to delay the opening of new ventures, but also to postpone those under construction. The gap amid demand and supply has extended as auctions have dropped in 6 months. In an attempt of drawing the attention of purchasers, developers are modifying the rates by withdrawing additional facilities to reduce the venture cost.
Even if the developers are giving discounts of about 10-15% on the ventures, some big conglomerates loaded with big expenses are endeavoring to reduce the rate. Senior Manager – Market Research at Nitesh Estates said to www.propertykhazana.com that, “The high risk weightage to realty segment basically means hew on lending to the segment for both the developers and purchasers by the lending agencies.” Some developers are also giving plots along with a residential unit; an odd move in an industry has become rate acute. For more and latest realty updates stay browsed with www.propertykhazana.com.
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