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NRIs the circuitous reason for on-hold projects

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As per to the sources saying at the www.propertykhazana.com, Realty players, who had the ventures in queue in Punjab to persuade NRIs, have deferred their proposals for ever with most NRIs who are no longer eager to invest in these properties. Meantime, realty companies have proposed integrated townships and shopping complexes in major towns for NRI clients. However, with declining incomes across the world, NRIs have also constricted their purses.
Zoom Developers President and Chief Executive Officer said to www.propertykhazana.com that, “Company was on slow wheels in its investments in Punjab, it proclaimed an investment of Rs. 650 Crores across the cities for constructing residential complexes, hotels and shopping malls and till now it has invested Rs. 40 Crores.
He also said that, “A residential complex with 100 flexible villas on 25 yards each at Patiala was in the queue and the villas which were planned to be finished within a year might take long time as the purchasers are not as hostile as were projected to be.”
Sources reported at the www.propertykhazana.com reveals that, Emaar MGF had a plan to pour Rs. 17,000 Crores in residential and infrastructure ventures in Punjab; it planned an integrated township venture in Mohali on 3,000 acres and also proclaimed that it will initiate another in Jalandhar and Ludhiana. DLF Ltd. also had plans to develop 2 integrated townships each in Mohali and Chandigarh also commercial ventures. For more updates on realty market browse www.propertykhazana.com.
Source: NBTVLIVE

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