Short-term investors have cornered half the newly built homes in Dwarka Expressway, Noida Expressway.
Diversions from strife torn Middle East, Egypt and Turkey are adding to traffic to friendly destinations such as Goa and Kerala.
The slowdown in the economy has pushed investors and end-users out of the market. The ones still around are negotiating hard.
All four-star, five-star and five-star deluxe hotels will have to install blackout curtains and provide luggage racks, portable or fixed, for two large suitcases.
The company is looking at a valuation of around Rs 1,200-1,400 crore for the three assets, says a property consultant.
“This is a national event. I don’t think people have been able to gauge the importance of the event until now,” says Shailendra Singh.
With the economy in a mess, rupee caught in a whirlwind and the job scene deteriorating by the day, buyers are shying away from the market.
While developers agree that the Bill will increase transparency in land deals, they say higher compensation to land owners could make several projects unviable.
Despite the crash in rupee, the silver lining is that investors with surplus funds can find good deals to buy hotel properties.
The rupee’s slide against the greenback is pushing up project costs for hotel developers by at least 10% to 15% and this could lead to further delays.
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