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Impact Of Earthquake On The Demand Of Property For Sale In Delhi
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After the recent earthquake the demand of property for sale in Delhi has dropped drastically. Since Delhi falls in sensitive zone 4 the area is prone to earthquake disasters. After the recent tremors were felt the real estate in Delhi has taken a beating. Currently things are not looking too good for property in Delhi for sale as people think it is unsafe to invest in the region. The worst hit are the property for sale in Delhi on the higher floors. Ground floor and first floors are still preferable investment option in real estate in Delhi.
This is not the first time such a trend is been seen everytime an earthquake strikes the capital the demand of property for Delhi for sale takes a hit. Similar trends were seen in South India also when tsunami has hit the area. Flats along the sea shore which usually demanded a premium were been sold at extremely low prices and there was no buyer in the market to purchase them. There was absolutely no demand for beach houses in cities like Chennai, Mahabalipuram, etc.
In most parts of Delhi there are not many high rises but there are some places like Dwarka were there has been a vertical development. Many apartments in Dwarka have been built by group housing societies and therefore are quiet a number of high rises in the region. The demand of flats in Dwraka has also taken a hit. Just like other localities people are afraid to take flats in Dwarka on the upper floors for rent. The sale of apartments in Dwarka on the upper floors has also taken a severe beating. This trend is worrying the owners of flats in Dwarka and sellers of property in Delhi for sale on higher floors. But according to real estate experts there is nothing to worry about as this is a passing phase in real estate in Delhi. According to experts the public memory is extremely short and it is unlikely that the demand of property for sale in Delhi is going to be impacted for a long duration. They feel since the earthquake event is quiet recent the it is impacting the sales in real estate in Delhi. Over a period of time the demand of property for sale in Delhi will revive after the investors confidence is restored, which will eventually happen in a few months time.
Makaan.com, India's fastest growing property site, host property sites and India properties. The website helps people to buy, rent sell property in Delhi for sale and properties across the country.
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