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India: Diwali fails to light up realty market

Posted on 16 November 2012

Despite aggressive marketing and offers made by real estate developers during the days before Diwali, investments in property have remained lukewarm due to high prices of houses in and around the National Capital Region (NCR), according to a survey by industry body Assocham.
The major factors behind the slump are high prices of land and unprecedented rise in the cost of construction materials, iron, cement and labour, the survey said. The demand saw a surge of only 20 per cent on the eve of the festival compared to the normal average sale per month, the survey said………………………………………..Full Article: Source

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