Gift City Spectacular project development

This all translates to bad news for the real-estate market. Home-owners will have a more difficult time obtaining loans to purchase houses. Already, cities such as Mumbai are facing a downturn in the real-estate market, despite the mass public perhaps not being aware about it. Usually, before a bubble bursts price rises begin to slowly drop. Gift City Latest Update is currently being evidenced across the country. The National Housing Bank's Reside, which tracks housing prices across 26 prominent cities in India, showed that in the April-June period, 22 cities saw a fall in prices compared to the previous quarter. Mumbai and Delhi saw prices drop by 0.5 per cent and 1.5 per cent, respectively. While properties in Chennai dropped by 2.3 per cent and properties in Kolkata dropped by 4.1 per cent when looking at nominal numbers, which is not comparing to the previous quarter when adjusted for inflation, out of the 15 largest cities in India, house prices actually fell in 11 out of the 15 cities in the second quarter of 2013. This is absolutely alarming.

For example, Kolkata saw a dramatic -12.9 per cent drop in prices when adjusted for inflation, and Surat saw a -11.5 per cent drop in prices when adjusted for inflation. Here is a table that demonstrates the drop in prices between 2012 and 2013. Once known as the Manchester of the East for its flourishing textile industry Gift City News is a rapidly growing metropolitan city. It’s located to the West of India, in the state of Gujarat. Lying on the banks of the historic river Sabarmati, it’s the seventh largest metropolitan area and the fifth largest city in India. Ahmedabad real-estate, as a sector, is an investors market. Among the several real-estate projects lined up in the near future, Ahmedabad will see the towering presence of 22-storeyed residential skyscrapers in the coming year. Despite the significant number of modern infrastructure projects approved for the city, Ahmedabad still retains the old world charm. Thanks to its rich historical heritage, the city still hosts traditional Persian architecture.

The Ahmedabad real-estate landscape, therefore, is a melting pot of the old and new. With the hitting new highs and RBI Governor Raghuram Rajan promising all sorts of ground-breaking changes to propel the economy on 6th November, the RBI unleashed a far reaching set of new rules that will allow foreign banks to enter India's protected domestic environment, you would expect real-estate prices to be surging upward. And yet, this is not what is happening. The RBI has been consistently raising the repo rate, which is the rate that banks are charged to borrow from the RBI- in recent months. These past few days, major banks such as State Bank of India and HDFC Bank raised the rates to obtain loans to purchase houses, and the trend is unexpected to stop as the RBI is expected to continue raising rates to fight inflation. As the early days of 2015 coast along, it is clear that the Indian economy is finally turning the corner. With GDP growth pegged at 5.5% this fiscal against 4.7% in the previous financial year, reports indicate that hiring in various sectors will gather traction this year, leading to better job and income prospects for salaried employees. All this augurs well for the Indian realty industry, which was beset with muted sentiments since the feel-good factor had been missing during the past few years.

Property Mart is Leading Real estate Consultant in Bangalore from past couple of years offering to Book Prestige New Projects in Bangalore. For Booking Call us on: @ +08971315026 and Visit Out official site http://giftcityahmedabad.in