In 2011 the Indian real estate sector had to grapple with a loss of reputation with its alleged link to the 2G scam, but also dwindling sales and funding constraints.
Huge Drop in Sales
A huge drop in sales due to mounting interest rates which hurt both, cash flows and customer demand, and launches came to a grinding halt. Mumbai real estate was the worst affected. Other markets like Bangalore real estate and NCR continued to see sporadic sales. But even here, the trend was definitely downward.
Priyanka Ghosh of CNBC-TV18 wraps up 2011.
Tags: Bangalore property prices, Indian Real Estate, Mumbai real estate, NCR, NCR property, property prices, Property prices in India
February 13th, 2012 at 5:49 am
With the rising concept of integrated, mixed-used developments, a number of chain hotels too are entering these concepts to cater to the accommodation needs of traveling businessmen. Wave City Center is one such concept which will see entry of chain hotel which is a good sign for city’s real estate.