Small town, big return
ET Realty, June 26, 2009, Page 1
Demand for houses in small towns have witnessed a spur in economic activities
Vivek Shukla
For three years, Sunil Negi, a banker, has been trying to fulfill his long cherished dream of purchasing a house of his own, either in Delhi or in Bhopal, the city of where his in-laws reside. But his budget of Rs 25 lakh was not enough to fulfill his dream. But he looked beyond these two cities to make his dream come true. Negi finally zeroed in on a property in Rudrapur, a small town in Uttarakhand. In the process, he has become one of the many buyers who are purchasing houses in smaller cities.
Rudrapur is among a host of towns like Almora, Bhiwadi, Neemrana, Ghaziabad, Haldwani, Meerut and Karnal that have started attracting buyers. Small cities closer to the big cities are responsible for revival in the realty market, albeit slowly. According to Sanjeev Shrivastava, director, Assotech group, their projects in Gwalior, Rudrapur and Bhubaneswar are getting huge response. Developers who are building projects in smaller cities are getting positive response.
"In places like Meerut, Rudrapur and Haldwani, a two bedroom apartment costs Rs 15 lakh to Rs 18 Lakh. It is within reach for working people," said Sanjay Shrivastava, a Delhi based journalist, who has recently booked a flat in Meerut. "The main reason for realty development at these places is that metro cities and many big cities have reached the saturation point," said Devinder Gupta, CMD, global realty consultancy Century 21 India
Experts say that in smaller places, land is still available at reasonable rates. Industries are coming up. There is overall development. Hence, one should not think twice to book flats in small towns. Those fetch good returns.
Sunil Jindal, CEO of SVP builders says, "It is high time that those who only search for their houses in metro cities should think of smaller towns. Even in Ghaziabad, one can buy good house at less than Rs 25 lakh. The very same flat you would not get less than Rs 50 lakh in Delhi." Interestingly, rather than the big players, the smaller ones are benefiting from the realty boom in smaller cities and towns, which have shown no sign of being affected by the slowdown that has otherwise gripped the realty sector.
ET Realty, June 26, 2009, Page 1
Demand for houses in small towns have witnessed a spur in economic activities
Vivek Shukla
For three years, Sunil Negi, a banker, has been trying to fulfill his long cherished dream of purchasing a house of his own, either in Delhi or in Bhopal, the city of where his in-laws reside. But his budget of Rs 25 lakh was not enough to fulfill his dream. But he looked beyond these two cities to make his dream come true. Negi finally zeroed in on a property in Rudrapur, a small town in Uttarakhand. In the process, he has become one of the many buyers who are purchasing houses in smaller cities.
Rudrapur is among a host of towns like Almora, Bhiwadi, Neemrana, Ghaziabad, Haldwani, Meerut and Karnal that have started attracting buyers. Small cities closer to the big cities are responsible for revival in the realty market, albeit slowly. According to Sanjeev Shrivastava, director, Assotech group, their projects in Gwalior, Rudrapur and Bhubaneswar are getting huge response. Developers who are building projects in smaller cities are getting positive response.
"In places like Meerut, Rudrapur and Haldwani, a two bedroom apartment costs Rs 15 lakh to Rs 18 Lakh. It is within reach for working people," said Sanjay Shrivastava, a Delhi based journalist, who has recently booked a flat in Meerut. "The main reason for realty development at these places is that metro cities and many big cities have reached the saturation point," said Devinder Gupta, CMD, global realty consultancy Century 21 India
Experts say that in smaller places, land is still available at reasonable rates. Industries are coming up. There is overall development. Hence, one should not think twice to book flats in small towns. Those fetch good returns.
Sunil Jindal, CEO of SVP builders says, "It is high time that those who only search for their houses in metro cities should think of smaller towns. Even in Ghaziabad, one can buy good house at less than Rs 25 lakh. The very same flat you would not get less than Rs 50 lakh in Delhi." Interestingly, rather than the big players, the smaller ones are benefiting from the realty boom in smaller cities and towns, which have shown no sign of being affected by the slowdown that has otherwise gripped the realty sector.
Posts
No comments:
Post a Comment