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In Mumbai the registrations have immersed to 30 Percentage, still the rates of Real Estate are on hold

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Claimed sources to www.propertykhazana.com says, the realty prices in Mumbai are turning too hot and the housing auctions have taken the extreme immerse. Land registrations have slither down to 33% in June compared to pervious year and on the whole the year to year auctions from January to June has dropped by 20% as compared to auctions in the last year.
Reports also says that the registration of flats generally happens in 6 to 9 months after the auctions which means the information matches to sales amount from April 2010 to January 2011. Months ahead it is expected that the registration will fall even more in those months and this is mostly because of the high-pricing and also due to the actuality that agreements of new ventures has squealed to a stop from 6 months.
Speaking to www.propertykhazana.com, Research Analyst Aatash Shah pointed out that hold up in auctions amount it has been mixed by the high inertest rates which has now put the vigor on the developers to decrease the rates. It also states that in spite of covering auctions housing values in Mumbai is on an average and are up to 15-20% in January-June 2011 as against the values in the same months earlier. Shah further added that, “For a Developers the sum value of the ventures registered in the locality during January-June 2011 is downed by 4-8% and the product mix has been the same. This will not be sufficient to rattle the developers into the hacking the values to develop the amounts.”
Source: Press Trust Of India

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