It was a very tough time for all the business circuit during the financial slow down of 2008 – 09. Realty Bangalore was also badly injured during this crisis and witnessed a very low profile up gradation for the city’s infrastructural units. But gradually by end of the 2009 – 10 it began to catch the ladder to pace and gradually started climbing at a faster note. According to the sources of www.propertykhazana.com field of housing sell in Bangalore dropped down to 20 percent to 25 percent during the term of post crisis especially at the IT sector. Harsh state of the realty Bangalore is making a faster movement now for all sorts of customers now apart from the IT earlier. A lot of booklet filled with non – IT segment made the realty atmosphere more energetic and tended towards launching more new projects at various corner of the city. 2011 – 12 is the most significant and record breaking financial duration after the nightmare of 2007 – 08. Sale graph is better with Rs 980 crore and is targeted to touch around Rs 1500 crores in current financial year. The graph is to raise higher if the bank rates and other circumstances provide smoother way with next 6 -7 months. Mid income segment is mostly targeted at this instance to cover up the debt increase due earlier crisis season.
But on the other hand another hindrance on the way of fast forward is the increased rate of interest imposed by the banks and other financial organization to the developers as well as to the customers. This higher bank rate is breaking the rhythm of growth in realty Bangalore for both customers and the developers. It was found a depletion of 8 – 10 percent in realty hologram as an impact of such appalling bank rates. Higher cost of the construction materials also one of the major reasons to put pressure on the customer’s wallet. Even the festive season could not make up the negotiation value among the realty players of the city. Despite of launching many new residential projects there was very less interest found for the booking. As a result to maintain a healthy relationship between the realty and its customers many has started to reduce the surface area of dwelling as compared to that in earlier days. Now, a doubled bedroom hall kitchen is offered with just around 1100 square feet area which was approximately 1350 – 1400 for the Bangalore locations.
Source: NIMMA BENGALURU
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