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Realty Giants ponders on B Class Towns

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As per the available data with the www.propertykhazana.com many Indian realty companies are gazing for Greenfield mall ventures in B class cities and the list comprise the names of Unitech, Parsvanath, DLF and Omaxe constructions.
Unitech considering Nagpur, Pune and Indore has poured a whooping sum of Rs.500 Crores for a Greenfield retail project on partnership basis. Fallowing the footsteps of Unitech it is said by the source that Parsvanath and Omaxe companies are in talks to finalize similar projects. Speaking to the www.propertykhazana.com Sanjay Chandra, MD, Unitech Group said that the realty companies have no issues investing on the Greenfield mall projects.
It is the RBI cause for these developments because RBI went rigid against lending the loans for the commercial realty projects and by this the Class 2 builders are not in condition to take up the projects on their own, thus expecting the realty giants to be the part of their projects.
Similarly, Parsvanath Developers is about to invest in a local project and commenting on this an expert said at the www.propertykhazana.com that the big players are least bothered about the M&A trend and instead are worried only about the segregation of the land. The prices may perk in the coming days and it will not be a surprise if the Tier-2 cities properties are more expensive then the metro cities.
Source: NIMMA BENGALURU

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