Housing sector sees a silver lining, sales up 25%
Activity levels are gaining traction in the near moribund housing market Make home loan repayment easy EMIs and tenure Land as investment Buying house? Quote price Home loan process as a flurry of interest rate cuts, price drops and the building industry’s focus on affordable housing start to lure buyers back into the market.
A cross section of banks, property developers and real estate consultancies that SundayET spoke to confirmed that the rise in activity levels since the start of the year had picked up momentum in the last three months, with some in the sector saying that sales were up by as much as 25-30% since April, after witnessing a growth of 10-15% during the first quarter of 2009.
India’s property market started showing signs of serious trouble nearly a year ago with first the American sub-prime crisis and later the Lehman bankruptcy playing havoc. The overpriced projects by builders found few takers which was worsened with the IT industry facing a major setback.
More : economictimes.indiatimes.com