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Indian real estate likely to retain its charm in couple of years

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According to the MD of Asia Pacific, Mr. Sameer Nayar, the recession in realty is likely to continue for another 2 years, and with the ongoing slump in the Indian realty segment, both the buyers and sellers are not comfortable and finally no productive deals are taking place, he added. The realty developers are required to make realistic review on the condition of the market before announcing or launching a venture, he advised.
In fact the demand and supply phenomenon is playing a vital role in downfall of the realty transactions all over. To overcome the crisis, Mr. Nayar explains with an example saying, in the NCR Region there is more supply as far as the office space is concerned and it roughly takes 2-3 years to occupy the existing available spaces and to prevail over the crisis no new approval should be given unless and until all the existing vacant premises is occupied. Speaking to the www.propertykhazana.com, Mr. Nayar said that, the 2nd largest sector after agriculture, Realty and construction is been ignored and the entire focus is on IT Sector which was once the reason for the realty explosion and now the reason for downfall he added. Browse www.propertykhazana.com for more and latest real estate updates.
Source: NBTVLIVE

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