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Bihar untouched by the global financial crisis, protracts its business

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As per to the sources saying @ the www.propertykhazana.com, a total of 1.50 Lakhs new vehicles were sold out in the past 10-11 months in Bihar against the sales of 92,150 in the same year, which is about 41,853 over those sold previous year. In November alone, total of about 19,750 vehicles in various groups were sold against 4,403 over sold in the same time. The automobile segment registered a growth of about 50% in auctions this year and Bihar has enrolled growth in this segment at a time when its auctions dropped by 20-25% in many states. According to the sources from state registration department, Bihar has gained of about Rs. 40 Crores revenue from apartment registrations in the previous 2 months. Total of about 3,140 apartments were registered which shows there is a good liquidity in Bihar. The realty segment was clumsily bonked by global slump, which had forced the builders to cut rates and give striking packages to shove through their auctions. Reason why economic slump has not affected Bihar is that there is a source of income and it is not based on industry.
Bihar’s Deputy CM said to the www.propertykhazana.com that, “Bihar has no industry and stock market, so there is no inquiry of manpower cutback or cut in salaries. In its place, many companies have started branch offices where it has deputed officers who are paid heavy salary on time. So, global slump has not affected Bihar, but no one can stay in future. So, a big number of development ventures had opened in Bihar with NDA Govt. in power, which had culled many construction conglomerates, builders and suppliers.” He also said that, “State Govt. was planning to invest Rs. 14,000 Crores on development ventures.” For more and latest realty updates follow us at www.propertykhazana.com.
Source: NBTVLIVE

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