Demand diminishs in NCR

Delhi: Demand for even budget homes is declining in the National Capital Region. Budget homes and project under constructions on the outskirts of Capital are going slow for want of new takers. Stocks in investors den are also available in these projects. Financial institutions are declining any further release of funds for such projects since the progress are slower than expected.
Rates have started further declining and now at 2001 level. Posh areas like Greater Kailash, Rohini, South Delhi lease rentals are historic low. Commercial segments and office spaces are struggling for their takers. Mall rents are now touching Rs.60/- per sq.ft. per month with many facilities. Office spaces investors wants to go for recovering maintainance and property tax. Shops owners in malls are told to open the shop otherwise double maintainance will be levied.