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Realty housing segment witnesses a boom

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Sources from www.propertykhazana.com say that the realty segment is picked up by around 10% in India. The MD of a realtor group states that the housing sector growth has improved considerably with the economy’s positive note. As such, builder’s for the housing projects has increased their rates by 5-10% during the last three months.
Since there was a demand for the housing units during the first quarter of 2009, the rates were slashed by around 30% which witnessed a downtrend due to a fall in the worldwide market. Over-whelmed by a slight improvement for demand in the housing sector, the builders who sold a major share of their projects at very low prices wanted to raise the prices slightly since there was a demand because of cut in rates. As per a report from Mumbai, prices shot up by 25 to 40% which witnessed a low trend in 2009.
There was an increase of 30% in the prices of flats in Mumbai which was executed by HDIL to Rs. 10,500 per Sq.ft and that Planet Godrej showed a boost of 20% at Rs. 25,000 per Sq.ft during the previous six months. Prices were also made high by 10% from the developers like DLF, Unitech, Jaypee Greens, Mahagun and Amrapali as compared to initial prices which existed during March-June. Even the high quality sector saw a raise in prices but found no growth. The same trend continues in Bangalore, Pune and Chennai. The ED of Cushman and Wakefiled states that since there is a slash in the interest rates, the builders are setting up housing projects at reasonable rates. For further details refer www.propertykhazana.com.
Source: NBTVLIVE

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