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18 Mar 2015

The real estate market has fell from a sharp slope due to many vital factors. The launch of residential buildings has not only seen dip but also the sales area of both finished homes and under construction projects in major Indian metros including Chennai has undergone worst period for the year 2014. The reason majorly said is that due to the incident happened in Moulivakkam. If you have forgot the incident, it is nothing than the collapse that took place in a mega storey building, said general Amarprakash Royal castle review.As per the recent findings of a property survey that was revealed by Feb end, 2015, the new trend that is revolving over the property market is predicted to continue for a fewlongerperiod.

There was a discount of 30% in each and every project that was launched newly in the year 2014 than compared to that of 2013, the previous year, whereasthe number of residential units that weresold in the same year also fell down by 14% as that of the previous year, 2013, thus the information been released in the magazine called Republic India showcasing the outlook of current real estate market. But, this is to show that the downward swing is not only inside India but also it continues with the nationwide swing in launch of new residential buildings further along with salesof such properties.

Rise in project prices and inability to invest over land and property among the salaried category and other segments that have conjointly been cited as one of thevital factors.In Chennai city, the Moulivakkammega storeybuilding collapse has been acting as a vital factor for the retardationwithin thehousing industry, resulting ina discountwithin the launch of new properties which is 25% higher right now, howeverthe percentage is below that ofBombaythat holds 43% and Hyderabad too holds high with 30%.There were a mixof things that result in the reduction of sales volume  for both completed and new residential launches which on the other hand, doesn’t recover the country’s economy. Another factor is that,, the sand patrons were expecting the costto come down in order to save up their money, but it is not happening.

The survey discloses some positive factors too, there are discount in vacant workplacehowever this year can witness raised absorption over workplacearea. High requirement over office space is noted in secondary areas including Guindy, Velacheryand itsclose areas.




 



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