Satyam scam impacts SEZ venture
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As per to the sources saying @ the www.propertykhazana.com, crest impacts of Satyam breakdown will not only affect the IT industry even the realty segment is equally fretful. If international customers and investors in IT field feel that India is not the preeminent place to dip into, then there will be a huge amount of empty office and housing spaces in the market. This will be added to the sufferings of realty segment which has witnessed an improvement in rates of about 30-35%.
As per to the report of C&W, about 85% of commercial space purchased in the country is by IT & ITes segment. Total office space seriatim in 2008 by the country’s chief business metros which comprise Chennai, Hyderabad, Kolkata, NCR, Pune, Hyderabad and Bengaluru with about 37 Million Sq.ft. Foremost realty developer who had big bank of office space said at the www.propertykhazana.com that, there might be a large slowdown of proposed IT SEZs across the country.
Also, conglomerates like Satyam usually lead the group to develop shop in tier II & III towns, which followed excitant realty development in those destinations might slump. But developers and consultants are fretful about Hyderabad’s realty market, which is by now bobbing under the effect of the international slump and the seriatim rate of office units for 2008 is dropped for 70% in the city at merely 1.3 million Sq.ft when the total cater was close to 4 Million Sq.ft. According to the sources available with www.propertykhazana.com, Maytas was the base to unbridle the Satyam breakdown and is likely to go predicament for the formers realty potentials which might affect the industry in the entire city. Industry forecaster said that, “Investors and purchasers will now think twice before dealing with Maytas and the metro venture in the city has grabbed by Maytas and might come under the scanner. For more and latest Indian realty news browse www.propertykhazana.com.
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