GSRK Estates
Home Services Projects Media Center About Us Contact Us Download Career
19 SEZs in Telangana, Andhra P
 
Tax Benefit for 1st Home Buyer
 
NIMS-Rangapur building, 400 ac
 
Report seeks Rs. 750 cr. for d
 
ORR Growth Corridor, ORR Phase
 
Hiring back as attrition soars
 
Irrigation Projects in Mahaboo
 
State entrusts protection of g
 
Hyderabad IT investment region
 
AP proposes 400 Acre electroni
 
Andhra Pradesh inks MoUs for R
 
Govt cancels illegal layouts i
 
Companies and states oppose La
 
Land acquisition bill - Revise
 
HMDA master plan covering 6000
 
AP has the most number of SEZs
 
Peugeot may choose Chittoor to
 
MIC Electronics new LED produ
 
Mahindra to set up tractor man
 
Capgemini has more staff in In
 
Show All News
Media Information
Building proposals flooding civic body

Published & Updated as on - 2010-02-18


After a lull of two years, the property market seems to be reviving. According to the civic Building Proposal Department, which grants permission for construction, there was a spurt of applications between October and December 2009 - 335, compared to 271 in the same period in 2008. In July-September 2009, the number of proposals rose to 377 from 366 in the same period the previous year.

Realty consultants said the residential market was booming. “There will be many projects launched in the coming months,” said Pranab Datta, CEO and managing director, Knight Frank, a real estate consultancy. He attributed it to a host of factors, such as liberal bank funding and increased job security among buyers.

The western suburbs (Bandra to Dahisar) are the hot spots with 537 proposals submitted in April-December 2009 — accounting for over half the 1,013 submitted across Mumbai. The island city (Colaba to Sion and Mahim) with 306 proposals and the eastern suburbs (Sion to Mulund) with 170 were next.

Areas like Bandra, Andheri, Kandivli, Goregaon, Malad and Borivli are set to acquire several new skyscrapers. However, these figures are low compared to 2006-07, which saw 1,720 proposals. This dropped to 1,602 in 2007-08 and 1,398 in 2008-09.

Builders blamed the economic slow¬down and the lack of land. “The liquidity crisis had forced many builders to cancel projects or postpone them,” said Lalit Kumar Jain, managing director, Kumar Builders. Also, redevelopment now revolves around slums and old buildings, which are time-consuming projects.Souceee:Hindustan Times 10/2/10

Newsletter Subscription
 
 
Copyright Reserve to © GSRK Estates 2009-10 | Privacy Policy | Disclaimer | Terms of Use | Site Map -- Web Technology ETimes (india)