Since last 30 years, the real estate Gurgaon has been on a sky scraping limit.Property in Gurgaon was enjoying its monopoly as an industry with huge inventory increasing demand and subsequently increasing prices.But this monopoly has now been shattered to fragments as statistics reports huge decline in the sale of commercial property in gurgaon. The tycoons of real estate Gurgaon, DLF, Unitech, Emaar MGF, who were on a sky scrapping limit once upon a time, are now complaining sales decline and inventory pile on.
DLF, the top most player in real estate Gurgaon, has reported 20% decline in the sale of residential property in the 4th quarter this financial year where else, Unitech, the second largest player in real estate Gurgaon, has reported a decline of 45%. These sluggish sales reports are startling facts to know about and to have actually occurred.
These sluggish sales reports and inventory pile ups in the last quarter has shattered the dreams of new entrants into real estate Gurgaon. Reports say that around 12% new residential property in Gurgaon remained unsold and the reasons pointed out to the steeply increasing prices of property in Gurgaon. The skyscraping prices of property in Gurgaon attributes to unwanted slowdown in this industry.
Mr. Amit Kapoor, Professor Management development Institute said that the prices of real estate Gurgaon has increased 1000 times in the last 30 years and “what’s the rationale behind it?” We agree to it that a 1000 times increase in prices in a particular industry commands some rationale. He also suggested that the Government should come forward and release some more land in order to combat the demand. Once the supply increases the demand would be met to some extent with surplus supply and this would enable the prices to fly at a normal pitch.
Even the public sector banks have stopped releasing loans to the real estate industry and the reasons are said to be heavy debts on the books of accounts of the owners of property in Gurgaon. Ramesh Subramanium, president, Sri City Developers commented that their exists lack of transparency or may be not enough real estate Gurgaon are listed and this could be a reason behind the private banks denying loans to the real estate Gurgaon.
We would suggest a complete revamp of the pricing strategy of the real estate Gurgaon which would enable private equity and bank funding as well to the owners of property in Gurgaon. Real Estate Gurgaon has become the most risky industry to invest in and the property owners are advised to either bring down property prices or to introduce cheaper and affordable projects into the market.
DLF, the top most player in real estate Gurgaon, has reported 20% decline in the sale of residential property in the 4th quarter this financial year where else, Unitech, the second largest player in real estate Gurgaon, has reported a decline of 45%. These sluggish sales reports are startling facts to know about and to have actually occurred.
These sluggish sales reports and inventory pile ups in the last quarter has shattered the dreams of new entrants into real estate Gurgaon. Reports say that around 12% new residential property in Gurgaon remained unsold and the reasons pointed out to the steeply increasing prices of property in Gurgaon. The skyscraping prices of property in Gurgaon attributes to unwanted slowdown in this industry.
Mr. Amit Kapoor, Professor Management development Institute said that the prices of real estate Gurgaon has increased 1000 times in the last 30 years and “what’s the rationale behind it?” We agree to it that a 1000 times increase in prices in a particular industry commands some rationale. He also suggested that the Government should come forward and release some more land in order to combat the demand. Once the supply increases the demand would be met to some extent with surplus supply and this would enable the prices to fly at a normal pitch.
Even the public sector banks have stopped releasing loans to the real estate industry and the reasons are said to be heavy debts on the books of accounts of the owners of property in Gurgaon. Ramesh Subramanium, president, Sri City Developers commented that their exists lack of transparency or may be not enough real estate Gurgaon are listed and this could be a reason behind the private banks denying loans to the real estate Gurgaon.
We would suggest a complete revamp of the pricing strategy of the real estate Gurgaon which would enable private equity and bank funding as well to the owners of property in Gurgaon. Real Estate Gurgaon has become the most risky industry to invest in and the property owners are advised to either bring down property prices or to introduce cheaper and affordable projects into the market.
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