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Economic outlook for real estate in 2009 – Savior Group

Submitted by on Tuesday, 3 March 2009No Comment

The swearing-in ceremony of US president Barrack Obama was most watched event on television. Those eagerly looking for the new president’s taking his term included business houses and market leaders alike. Even though it is early to say what the new policies exactly look will like, there is a sense of positive optimism.

Even in India business houses are keeping their fingers crossed, hoping for a new round of economic boosters. One of the most affected sectors in the present economic meltdown has been the real estate industry.

The Indian real estate is eagerly waiting, not only for the US economy to pick up, but also for positive steps to boost the sector from the Indian government.

So what is the industry look out for 2009?

“Due to international market crunch, the market in India was also affected. But now the worst time is over especially for Real Estate. Year 2009 has started giving positive results and we hope to see the brighter part very soon. Overall 2009 should be fruitful for Real Estate.” Says the Director Mr. Sanjay Rastogi of Saviour Builders who are building a green housing project called GreenIsle in Crossings Republik, Ghaziabad. The optimism also comes from the recent measures like rate cuts. With interest rates coming down, there has been improvement in sales as compared to last year.

“There is no doubt that the Govt. has taken preventive measures and is planning very attractive scheme for different sectors. NHB has also played a great role. The cut in rate of interest in the recent past has a welcome note. Such kind of lucrative and beneficial schemes can prove wonders to the real estate industry. The rate cuts have not only made Saviour GREENISLE, but the entire Real Estate industry attractive investment,” says Mr. Iqbal Singh Sodhi, the Chairman of Saviour group.

However the government steps alone can’t revive the sector to the heights it saw in previous years. The builders too have to pitch in in a big way, cutting the prices but not compromising in quality. With sales down, many realtors have cut down the price, but the quality of homes hasalso come down with that.

This is where a good builder separates from rest. Says said the Director Mr. Sanjay Rastogi In the buoyant market, all developers do well. It is in the downturn that the natural selection and discernment process starts and it is then that a professional developer with industry-best standards and practices benefits and gains more recognition and trust from buyers.”

“We boast and say that we don’t compromises in quality. We have considered every possible norm of building a high rise tower. We only use UPVC for doors and windows. Besides, it provides with all the day to day necessities & luxuries simultaneously like swimming pool, health club, golf course, fountain parks, jogging track, spa etc. And the most important thing is that GreenIsle is situated right next to the golf course and the lake”

Other than quality homes, builders are also pitching in with new and unique features so that their property becomes more attractive. The Saviour Group are promoting their GreenIsle project as Eco-friendly homes. “We stress more on beautification in terms of plantation of trees and plants. The greener is around you, the more eco-friendly you are. The special features of being eco-friendly is that besides the fun zones and play stations, 73% of the total Project has been left open with maximum greens around the apartments,” says Director Mr. Sanjay Rastogi.

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