Indian custom of Shradh reduce the realty activity up to 25 percent
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Ritual and ethics are always a part of the Indian business and economy from the first day of its existence. As per the sources reported at www.propertykhazana.com the coming month of September will be a under the Shradh ritual for the Hindu followers and is surely to hamper the realty sale in the country where it is already injured with slow sale growth due to global economic blow.
The Shradh period will continue till Navaratri and there after one can expect bit realty activity in the market. On a short note with www.propertykhazana.com a resident of Homebay Residential states that the Shradh has already marked its effect in the market and further it may turn nearly up to 20 to 25 percent fall in realty behavior. But on the other hand there is also prediction of downing by 50 to 60 percent at these ritual moments. “Prospective buyers plans for wait for the auspicious moments for the purchase of any realty products along with the developers who are at the same instance are delaying their sites to cover up the Shradh phase” as depicted by Pankaj Jain from a prominent realty house in North India.
CMD of global CB Richard Ellis says that “mostly, even the realty players keep themselves away from the realty launches fearing the short of buyers and nor they offer any perks as part of the realty enhancement package at this period”. For more updates visit www.propertykhazana.com.
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