After a lengthy calm in the real estate markets, residential and commercial properties are representing a sign of growth in all major cities. With a firm union government, sops for the housing segments and other government decisions for the economic reawakening appear to have altered the home buyer’s sentiments fortunately from negative to positive in the previous three months span, said Gulam Zia-Executive Director, Knight Frank India, releasing their latest report on real estate trends.
The volume of sales in the six cities including Mumbai, National Capital Region, Pune, Chennai, Bengaluru and Hyderabad is anticipated to soar to 26 per cent of growth rate in the second half of 2014 in contrast to the same phase of the previous year. And the launch of new projects in the second half of 2014 might soar to record gain of 5 per cent probably.
Despite the fact that a high ratio of unsold inventory and insufficient response for the latest projects in the second half of 2013 and first half of the corresponding year are anticipated to dissuade the developers of real estate for creation of fresh launch further, Chennai & NCR however would serve as the two admirable exceptions which are likely to welcome new upcoming launches, the report said.
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| Boom in Real Estate Market |
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