Realty segment makes a demand for execution of commercial projects
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There is huge demand for major construction projects to increase the sales by around 50% during the third and fourth quarter of 2009-10, due to a rectification in the rates of commercial realty segment. As per the sources available at www.propertykhazana.com there was an increase in sales of commercial space by over 15% and as such major executors of the projects are letting out the commercial space giving a 20% discount.
Since there is an increase in the sales of commercial area by around 15% in Delhi, Gurgaon and Noida during the second quarter of the year, the Vice President of Raheja Builders states that he intends to offer a discount of around 15% for commercial space.
Sources available at www.propertykhazana.com say that Royal Palms India owns around four lakh Sq.ft commercial space/land which was obtained 25 years ago at a minimal cost and as per the requirement of the buyer, the firm may construct commercial/buildings varying from around 400sq.ft to around 80,000sq ft. The firm hopes to make a good turnover from selling of the same.
When the trend of the economy witnessed a growth, there was simultaneously an increase of sales in the commercial sector by over 40% which existed during 2005-06 which is as per a report released by the MD of Jones Lang La Salle Megharaj. Incidentally the commercial space requirement is on a high even in Bangalore and as per to the Executive Director of Nitesh Estates office space is another segment for diversification and may spring up in Bangalore’s centrally located areas or close to its proximity. For further details visit www.propertykhazana.com.
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