World economy and regulation are caught up in mode of recession. Real estate in Ahmedabad also seems to be caught up by the global slump. The demand for housing tends to slump but the prices of property has not been appreciated steeply. The demand of housing in Ahmedabad city has been adversely affected by the factors mentioned above and high rate of interests. In order to sustain their position in the real estate market, developers are expected to move toward price cutting or try to keep the price level stable. Realty developers like Adani group, Sun builder and Bakeri group have agreed that the market in Ahmedabad is going through a sluggish phase.
This slowdown is likely to affect the demand for homes in Ahmedabad and it will remain uncertain for a while. The rate of interest is another factor for slowdown as Reserve Bank of India has been hiking interest rate since March 2010 by 13 times. This resulted in sharp decline in housing demand as it crushed the liquidity available with banks and consumers. The global fall has also affected the NRI
investment in real estate market. This has resulted in making the developers to negotiate with their customers.
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Real Estate Properties