In 2003 Prabhakar Sharma, 45, bought 240 sq. yards of land on Ajmer Road, on the outskirts of Jaipur for just Rs 70,000. In 2006, I sold it for Rs 20 lakh, he says.
Sharma was lucky he had a windfall. Had he wanted to sell it this year, he may have had the same experience as Ramesh Purohit, a retired professor who bought 1000 sq yards for Rs 30 lakh in 2006 and cannot find a buyer.
Jaipurs real estate boom is showing signs of slowing down. Developers say there has been a 25 per cent correction in prices of plots on the outskirts, till recently the pick of the developers.
More : dnaindia.com
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