MILTON.LAWRENCEMYSUSURU: With the economy take after the second wave of pandemic, the real estate sector also witnessed recovery.
Commercial and housing property registration is getting momentum.
The amount of building plan approval has increased and so is the percentage of the buyer of auction sites.
Construction activities have begun, showing green shooting in this sector.
The Main Realtors Association – Secretary – Secretary and President Adish Sagar said people, lately, continued to invest in real estate.
Property registration in urban and rural areas is happening, he stated.
Realty sector covers more than 300 real estate management companies, development, financial, and business services that deal with bricks, cement and fabrication.
It is explained if there is a problem in this sector, perhaps because of individual or developer related problems, but the total percentage is less than 1%.
This sector provides the best platform for investment if buyers work be careful during transactions regarding the auction of premium sites and intermediaries, the number of buyers increases late.
Pre-pandemic, almost 80% of the site is auctioned, while it is only more than 60% now.
But it has increased after the second wave of pandemic, he said.
Construction activities are continued.
In the past six months, around 112 approval the building plan has been made by MySuru City Corporation (MCC).
The number has promised in the second quarter as 72 sanctions have been given in three months, which is higher than the appropriate period in 2020.
Previous fiscal, around 299 approval is given even though Covid.
On average, MCC issues 290 sanctions every year, according to an MCC engineer.