The pessimism is a little overdone in terms of the mid-income housing segment and consumer purchases of first time buyers. In the range of about Rs 50 lakhs to Rs 1.5 crore, there is still a lot of appetite at least in Bangalore
Nitesh Estate to launch 6-7 residential projects in 2013 and around three of this are likely to come up in 90-120 days.
Nitesh Shetty, CMD, Nitesh Estates, in an interview on CNBC-TV18 elaborated on the company’s recent announcement of a joined development agreement on their Bangalore project.