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Realty has shown a number of phases in the market ranging from fraud collection to that of low sale rate. But now a new phase has arrived for Indian realty where the image of realty has transformed from sellers market to buyers market. According to a recent source saying at the www.propertykhazana.com among 220 buyers around 51 has denied to pay the further installments of flats on the Seawoods NRI Estate at the location of Nerul in Mumbai.
All these are the defaulters of the two megaprojects belonging to the builders of city and Industrial Development Corporation. Now the official of this corporation is trying to convince the defaulters to continue their further payments as per the source of www.propertykhazana.com . Discontinuation will lead the buyers with a loss of around 9 lakhs to 10 lakhs, but it hardly affects their future deals as many are not satisfied with the current model of rate of that area which peaks up to Rs 7500 per square feet.
To regain the deal now the CIDCO officials are making new offers and other deduction for the continuation but a very low response was noticed till date. “Rate of interest also has been slashed down from 15 percent to almost 10 percent for the buyers but no one is making any positive response” says R More from Cidco.
Project GM of Cidco reveals that “L&T has made a proposal to the govt. recently for some favour in their 60 lakh square feet project”. It will be a multi tasking project in the shape of a Dolphin which will be comprising all the features of business world and also the initial achievement came with an award from the Developers’ and Builders’ Association of America. For more updates visit www.propertykhazana.com.
Source: NBTVLIVE

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