Real estate sector looking up,says PBAP

But Kumar Properties has said that their recent launch of budget apartments has seen good response. “These are one BHK apartments at Phursungi for which we have seen a good response. People do need apartments and when they see that this is the absolute baseline below which builders are not likely to go,they decide to make the purchase,” Jain said.

Rohit Gera,spokesperson PBAP says that the first signs of the turnaround that are visible now can be attributed to factors like low interest rates on loans,reduction in real estate prices and most importantly a change in the sentiments of the people,which was also a major reason for the downturn in the first place. ”The fact remains that people who had delayed their purchase decisions still continue paying rents and this is beginning to worry them. They are realising that they cannot wait endlessly and secondly they can also feel a change for the better happening. The general mood now is that the worst is over and things are going to become better now on. So they are once again venturing out and taking a decision on properties,” he said.