The property market is going through a tough phase and as a result, the unsold apartments inventory has increased by 17% this year, says Liases Foras, Mumbai-based property research firm.
"While in comparison to previous year, sales have increased this year by 9%. The sentiment is still muted across the eight tier I cities . Ahmedabad, Hyderabad and Kolkata showed improvement in sales, with growth more than 20%, while Pune, Chennai, and Bangalore witnessed decline in sales by 8%, 4% and 3%, respectively. Due to the prevailing uncertainty in the market, buyers chose to exercise caution for this quarter as well," said Pankaj Kapoor, managing director at Liases Foras.
Credit : http://www.dnaindia.com/