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Global financial crisis badly impacts on Punjab

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The down fall in the realty business is observed all across the world and is having a large impact on state realty business. Land dealers who by now witnessed reduce in their income are mentally prepared to loose 55-60% in their earnings. New deals are difficult to appear by; deals by now have finalized and have been called by purchasers owing to the cash flow chomp even if the rates stay tranquil. Property dealer in Jalandhar said we are sitting inactive from many days. NRI purchasers are also not in eager to purchase property here as earlier in the past. US based NRI from Jalandhar said to www.propertykhazana.com that, “The slump in USA has made it hard for NRIs to invest here. We are not capable to handle our possess installments in US as most of the things are purchased on loan there.” The construction segment has got a strike as NRIs are not investing in big ventures and only focusing on old ventures.
UK based NRI from Hoshiarpur District said to www.propertykhazana.com that, “The travel costs are big and many of our friends who use to come here every year are not willing to come.” Many NRIs who visit India for holidays has also come down this time as many of them are doing over-time to handle their loans. Mohinder Singh who organizes many foreign tours in partnership with SOTC – known brand in organizing tour packages said the travel business is also dropped with over 50%. Sales Executive who has many NRIs as regular customers say that generally at this time their business will improve, but their transactions have come down by about 55% this year.
Source: NBTVLIVE

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