[INDIAN REAL ESTATE NEWS] Good morning, everyone. I’m Kim suhyeon staff of Kamagroup Pvt. Ltd. Here I have an important Indian real estate news to share with you which is as undermentioned.
Amit Haware, the chief executive of Haware Properties, a developer in Mumbai, is hopeful that the festive season will bring some cheer to India’s real estate sector this year. With the Diwali celebrations coming up this week, this is traditionally considered an auspicious period by Indians to buy homes and other assets.
“Diwali is the biggest festival of the year,” says Mr Haware. “We’ve sold more than a hundred flats in our affordable housing projects in the last couple of weeks. I think that this Diwali will be higher than last year. We see signs of a revival.”
The country’s property market has faced a challenging time in recent years, hit by the government’s demonetisation move in November 2016, when the two highest value banknotes were suddenly banned, and before that, soaring prices and steep interest rates hurt prospects.
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