Festive season brings relief to real estate, automobile market
Nov 04, 2013
Source : The Times of India


NASHIK: At a time when the industrial and real estate sectors have been facing economic slowdown since the last two years, the festive season from Dussehra to Diwali brought relief to real estate and automobile sectors. From October 5 to November 3, these sectors generated business worth over Rs 300 crore in the city.

Around 450 flats totally worth around Rs 125 crore were booked from Ghatasthapana, the day of commencement of Navaratri festival, till Laxmi pujan on November 3 . On the other hand, around 2,300 passenger cars, multi-utility vehicles (MUVs) and others, with a value of around Rs 150 crore were sold on the occasion of Dussehra and Diwali. The festive season also gave a boost to the two-wheeler market as 7,000 motorcycles worth around Rs 42 crore were sold during the one-month period.

Speaking to TOI, Kiran Chavan, president of Confederation of Real Estate Developers' Association of India (Credai), Nashik, said, "No new housing scheme was launched this year on the occasion of Dussehra and Diwali, but the existing schemes received good response during the festive season. Around 450 flats were booked. The real estate market is already facing an economic slowdown. At this juncture, good response from the customers brought a great relief to the real estate sector. This is an indication that the real estate market is now coming out of slowdown."

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