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Realty segment has seen a growth of 15 Percentage in second quarter

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After a slump down in growth by 10% during the first quarter of 2009-10, the realty segment has witnessed a growth of 15% during the second quarter of 2009-10, though the increase is being attributed by a slow growth of the last quarter. This is very minimal in comparison to the growth seen in January to March of 20008 in major cities. As per reports from www.propertykhazana.com these are appropriate figures got from a survey conducted by the realty sector.
A statement issued by the Chief Executive Officer of Jones Lang LaSalle Meghraj states that the office market witnessed 10 million Sq.ft meant for major IT cities which are inclusive of Mumbai and Delhi.
As per a source from www.propertykhazana.com, the housing sector developers do not intend to reduce their prices since they are expecting to see an upward trend in the first quarter of 2009-10. The Chairman and MD of Cushman & Wakefield is of the view that the undertakings that were being deferred for the last two years would be finished now in order to tackle the increase in demand.
There is only a partial demand of 6% for properties worth above Rs. 50 lakhs in contrast to 30% for Rs. 5-15 lakhs, 26% for Rs. 15 - 25 Lakh, 22% for Rs. 25 - 40 lakh, and 12% for Rs. 35 lakh - 50 lakh. There is a truth that credit housing sector growth has increased when HDFC saw a growth 30% in its credit business.
Source: NBTVLIVE

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