Ever since the recession trend has set in, the worst hit market seems to be that of the real estate and all those lands that were being sold at a mindless price are now being disposed at a throw away price. Even the city of Bangalore that has always been known as the hub for real estate has been dwindling.
It is heard that in Bangalore from June onwards already there is 30 percent downfall and news from real estate sources is that this will raise up to a fifty percent downfall in the coming three months or so. A very similar situation is being predicted even in the city of Hyderabad.
As it is, the sales have come down drastically and many are saying that there is no life for new constructions. This trend might continue for some more time and right now those places that were being sold at around 4k per sft have now come down to 3k per sft and this is likely to go down further.
