Posted: 25 Nov 2011 04:28 AM PST
The government’s recent decision by increasing stakes of foreign direct investment (FDI) to 51percent and increase FDI limit in single-brand retail to 100% has brought a new ray of hope for real estate sector, as which has been suffering from last couple of years due to down sales and increasing debt. The cabinet’s strong move may not be affect immediately to market but more probably it will regularize the real estate projects that had either put on hold or construction progress to build malls and shopping complexes is very slow due to debts from last few years.
After government’s decision to increase FDI now realtors are looking forward to execute our retail plans, a market player said. You can expect a huge demand and supply of quality real estate over the next two years from a number of developers, he added.
According to the several market players, in the current scenario country is lacking with the quality real estate particularly in small towns. However, if demand will be uplifted in the near future then it will bring hopes for realtors for investing in big projects, they added.
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