Bhopal real estate is not doing well as there have been very few transactions for property in the city like property in Phanda, property in Ayodhya Nagar, etc. Acknowledging the fact for the first time it has been decided that the corrector rate in real estate Bhopal will not change, except for 20 locations. There is no property sale happening in most parts of the city and hence the decision has been taken as a drastic measure to invoke positive sentiments in the market.
The civic authority believes that static collector rate will boost the property sale of property in the city like property in Phanda, property in Ayodhya Nagar, etc. Collector rate is the minimum rate at which property in real estate Bhopal is registered. Looking at the slump in real estate Bhopal a maximum hike of 10% at five locations has been proposed. The other 15 locations in real estate Bhopal will see hike between 3.1% and 9.1%. It is believed that most properties in Bhopal real estate are unable to attract buyers. Property in Phanda and property in Ayodhya Nagar have seen almost no transactions in the last one year.
According to experts people are not ready to buy properties in Bhopal real estate even when they are lesser than collector rate. According to an estimate around 10,000 properties in and around Bhopal real estate are unable to attract buyers. There is no property sale at all in the city, both in the primary as well as secondary market. The investor sentiment also does not look very positive for Bhopal real estate. Bhopal is primarily an end-user market and steps should be taken to ensure that there is more investment in the city. As the infrastructure in the city will improve so will be the outlook of investors.
The civic authority believes that static collector rate will boost the property sale of property in the city like property in Phanda, property in Ayodhya Nagar, etc. Collector rate is the minimum rate at which property in real estate Bhopal is registered. Looking at the slump in real estate Bhopal a maximum hike of 10% at five locations has been proposed. The other 15 locations in real estate Bhopal will see hike between 3.1% and 9.1%. It is believed that most properties in Bhopal real estate are unable to attract buyers. Property in Phanda and property in Ayodhya Nagar have seen almost no transactions in the last one year.
According to experts people are not ready to buy properties in Bhopal real estate even when they are lesser than collector rate. According to an estimate around 10,000 properties in and around Bhopal real estate are unable to attract buyers. There is no property sale at all in the city, both in the primary as well as secondary market. The investor sentiment also does not look very positive for Bhopal real estate. Bhopal is primarily an end-user market and steps should be taken to ensure that there is more investment in the city. As the infrastructure in the city will improve so will be the outlook of investors.
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