Market experts believes that downturn in stock market has soaked the liquidity from the real estate market. There may be selective buying on the particular strategically located projects but many are watching the political scenario closely.

RIDING ON the festive wave, the real estate player has launched many new residential projects recently but investors are still cautious about the real estate scenario in Jaipur. Experts believe that the doldrums in stock market is also affecting the real estate market.

"Though investors have fled the real estate market in Jaipur but still at few areas in the city the actual user is coming as a buyer for residential properties. Many of the residential schemes at the outskirts of the city are bearing the brunt of the downturn in the property market," director of real estate consultant company Erudite, Sunil Jain said.

But the players are riding on new ideas like targeted clientele base and projects nearer to the city are hoping to cash in on the salary rise for government employees due to the sixth pay commission revision.

"I have launched three schemes in this festive season. Two out of three are clientele oriented schemes. One is for defence personnel and second is for corporate clients. They are the actual user and with world class facilities and other attractions the scheme will be hopefully sold out in this festive season itself," Rohit Suri of My Liberty Homes said.

Few other players are banking on suitable location to sell projects.

"The location is the most crucial factor in selling any residential building. We are hoping for a spurt in the property market by the end of this year. Our Hanging Garden is almost sold out and the new launch Omega will be definitely sold out as it is located very strategically," Prashant Gupta of Anukampa builders said.

But the big real estate companies like Ansal is not very keen on Jaipur real estate in the present scenario. "Out of 2000 plots we sold, only 15 are being used to build homes. There is an oversupply in the market and there is virtually no demand in the peripheral areas of Jaipur," RC Roongta of Ansal Sushant City said.

Market experts believes that downturn in stock market has soaked the liquidity from the real estate market. "There may be selective buying on the particular strategically located projects but many are watching the political scenario closely before making an investment in property market in Jaipur and this will continue till the assembly elections in the state," Sunil Jain said.

Компания "SV Development"