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Realty companies joining affordable housing bandwagon

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International financial crisis clout the Indian realty segment in recent years. JLLM gave statement to www.propertykhazana.com that, “The global economic diminish is more, by taking its charge on Indian realty segment. We can now take the current dynamics to succeed the unstable degrees for another 2 years. Housing, commercial and retail is been effected at different levels.”
Property consultant Cushman & Wakefield senior executive said at the www.propertykhazana.com that the real estate segment will be affected highly in the near future. Housing market of Bengaluru is also seeing a delay as potential purchasers are waiting in expectation that residence rates which had fallen in previous year will be back. Developers are carrying out all the possible things to rise up auctions. Discounts in rates couched in schemes like taking 2-4% of the interest cost, bendy prices for parking, floor rise rating and throwing in free samples, comprising semi-furnished residences.
Advisor of Asipac Projects said to www.propertykhazana.com that, “Property rates in most parts of Bengaluru suburbs is about to come down, with inquiring rates in East, South-East and in the South by 10-30%.” As the segment is going into reasonable residential to live in the downturn and even Bangalore based firms are also eager to cut costs to retain the sales. Mantri Developers is operating in ‘factory residences’ for its raid into budget residential. Citigroup supported Golden Gate, Puravankara subsidiary Provident Housing & Infrastructure, UIOF supported Ozone Group and Vakil Housing has sketched the same proposals.
Source: NBTVLIVE

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