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No hike in realty prices during festive season, says builders

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Land rates are increasing during the festival season, while the purchasers are turning rate conscious and they are not willing to pay premium on apartments. Chairman and Country Head of JLLM said to www.propertykhazana.com that, “Developers have come to know that they cannot raise the rates any more according to their will as the clients will merely not purchase the product. Clients arrived to the market after a break and the developers were not agog to hostility them with high rates.
General Secretary of Builders Association of India said to www.propertykhazana.com that, “In the previous year we had experienced lot of troubles and had also improved. Our aim is to conclude our present ventures and only after that we can think about opening a new one.” Few developers are correcting their ventures to go with low cost purchasers.
At Powai, Nahar Builders had started a reasonable residential plan for Rs. 6,000 per Sq.ft in a complex in which the available rate was at Rs. 7,500 per Sq.ft. Director of the company said to www.propertykhazana.com that, “The purchasers of reasonable residences will have a small residences and less facilities.” Managing Director of Orbit Corporation Ltd. also believes that people are no longer ready to pay a premium. For more updates on realty market browse www.propertykhazana.com.
Source: NBTVLIVE

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