Software engineer Ravi Kumar took a loan from a leading private sector bank and invested in the property market in 2008, at the height of the realty boom. Today with values lower than what he purchased the property for, selling-out and exiting the sale is not an option for him.
With a stiff EMI to be paid out, renting out the apartment seemed a good idea. Kumar did not complain when he found rental values rising as the property neared completion. Today with high occupancy, the rental values are almost 15-20% higher than in March 2009.
Many people are facing this situation across cities in India. A Brix Research survey over 30 Indian cities showed that while capital values, which fell during the Jan-Mar 2009 quarter, rose from Apr-Sept 2009 but remained either lower than the previous values or at the same level.
More : economictimes.indiatimes.com
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