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Office and Retail space rental declines

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Office and retail space in Mumbai is loosing its demand owing to the terror attacks. Unmesh Sharma an analyst, said to www.propertykhazana.com that, “If the Govt. bustle do not assist in retaining the confidence for the foreign investors then we will witness an effect on demand for commercial realty setting more stress on rents. Stocks of Indiabulls Real Estate Ltd., a developer supported by billionaire Lakshmi Mittal and its Singapore property trust might reduce.”
Indiabulls Real Estate mounted about 5% to Rs. 98 in Mumbai trading. The stock has fallen by about 88% this year, equal to the 88% reduce in the real estate index of the Bombay Stock Exchange. Maximum of about 200 people were annihilated and 300 were crippled in Mumbai in the terror attack. They attacked lavish hotels, restaurants, the main railway station and a Jewish centre for about 65 hours. Sharma said to www.propertykhazana.com that, “Demand for housing property in South Mumbai is by now under stress owing to soaring interest rates and the disrelishes of developers to cut rates. The attacks might affect the outlook and customer confidence in the near term.” For more and latest realty updates follow us at www.propertykhazana.com.
Source: NBTVLIVE

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