INDORE: The festive season has brought smiles on the faces of realtors as end users are showing interest in medium range properties in Indore.
Though investors looking for building assets are still passive, the sluggish real estate
sector has seen a ray of hope in festive purchases. Demand for real estate properties
from end users have picked up and is expected to improve further, industry experts said. Festive season is the peak period for real estate
as this period is considered auspicious for purchasing homes, valuables and making new deals.
dealers said that enquiries for the real estate properties and site
visits have increased, while customers, who were in the wait and watch mode until then have started showing interest. Liladhar Maheswari
, a city-based developer said, “Demand is picking up and expected to increase in the coming months. The current market is driven by actual users and many deals have been finalised.” However, investors have been shying away from the market at the current price levels apprehending poor margins. Maheshwari
said, “Investors are passive because they are not getting good returns for their money. Also investors are always interested in making fast profit, which is not happening in the current market.”
Industry participants said, most of the customers are showing interest in properties in the range of Rs 50 lakh to Rs 1 crore.
Builder Kailash Raghuvanshi said, “In the user driven market most of the demand comes for medium range properties. End users spend money according to their needs and requirement.” Pallav Vijayvargiya, proprietor of an Indore based real estate consultant, said, “Demand for residential and commercial properties have picked up. Properties located in the city and on the out skirts are attracting good enquiries.”
Credits Times of India