by Mr. Gaurav Gupta, General Secretary, Raj Nagar Extension and MD, S G Estates..
The year 2013 has
witnessed a lot of action in the real estate sector like introduction of the
Land acquisition, Rehabilitation and resettlement (LARR) Bill in the
parliament. The REIT funding was a major breakthrough for developers as most of
their projects were stalled due to liquidity crunch.
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| Gaurav Gupta |
The Indian Economy
also witnessed a poor macroeconomics along with slow income growth, and
depreciating Indian rupee, sky-rocketing inflation & high borrowing rates
combined to make consumers vary of spending.
Despite this, the
real estate prices continued to exhibit upward movement even as the weakening
rupee steadily eroded purchasing power.
However, Raj Nagar
Extension during the second quarter of the year has seen an increase in the
buyers' sentiment for affordable housing projects. We have seen 4000 end-users
moved to Raj Nagar Extension by December 2013.
As the countdown for
2014 has already begun, every developer & buyer is hopeful for a better
economy this time. It is expected that Ghaziabad will have a robust infrastructure
by 2014 as the UP Government has already announced the investment and plans for
highways, peripheral roads, schools and colleges.
By 2014 we expect
these to be accomplished and operational. We expect the real estate market will
be stable in the first quarter and then an increase in the sentiments of the
buyers propelling to the investment in residential and commercial projects.
SG ESTATES LTD
105-106, Deepshikha Tower,
Rajendera Place,
New Delhi-110008
Telephone :011-42323230 (Hunting Lines)
Fax : 011 - 42323244
Email :info@sgestates.in
