• News by Month

  Select Month May 2013 April 2013 March 2013 February 2013 January 2013 December 2012 November 2012 October 2012 September 2012 August 2012 July 2012 June 2012 May 2012 April 2012 March 2012 February 2012 January 2012 December 2011 November 2011 October 2011 September 2011 August 2011 July 2011 June 2011 May 2011 April 2011 March 2011 February 2011 January 2011 December 2010 November 2010 October 2010 September 2010 August 2010 July 2010 May 2010 April 2010 March 2010 February 2010 January 2010 December 2009 November 2009 October 2009 September 2009 August 2009 July 2009 June 2009 May 2009 April 2009 March 2009 February 2009 January 2009 December 2008 November 2008 October 2008 September 2008 August 2008 July 2008 June 2008 May 2008 April 2008 March 2008 February 2008 January 2008 December 2007 November 2007 October 2007 September 2007 August 2007 July 2007 June 2007 May 2007 April 2007 March 2007 February 2007 January 2007 December 2006 November 2006 October 2006 September 2006

• News by City

  • Bangalore
  • Chennai
  • Delhi
  • Faridabad
  • Gurgaon
  • Hyderabad
  • Kolkata
  • Mumbai
  • Noida
  • Pune

• News by Category

  • NRI
  • FDI
  • Home Loans
  • Real Estate India
  • Banking and Finance
  • Real Estate Developers

« Norms eased for setting up power units in SEZs | Home | NHAI to take up Rs 10k cr worth projects in Punjab, Haryana and HP »

No full page real estate ads in newspapers over next 2 weekends!

For the next two weekends, you will not get to see any of the full page real estate advertisements in most papers. And that’s because developers nationwide are not just going on a strike, but they have also decided to pull back all media activity.

According to Ernst & Young, in 2011 the real estate industry nationwide spend over Rs 2,200 crore on print advertising alone, which works out to over Rs 42 crore a week! In Mumbai, the figure for 2011 was Rs 361 crore, which is about Rs 7 crore a week!

And that’s not all. The MCHI has also asked over 250 businesses associated with construction and real estate, for example, brokers, raw material distributors and others, to hold back their business over the next two weekends.

Speaking to Bloomberg UTV, the management of the MCHI said that several other industries rely on real estate, and the slowdown affecting the sector is affecting these as well. The MCHI is trying to get the government to notice the woes covering the sector through various tactics, including a planned silent protest – the date of which is likely to be announced on the April 30.

The sector has been plagued with rising input costs and cautious demand – however, sentiment seems to have improved over the last month or so, with a nominal uptick in sales volumes.

News Published Under:   Real Estate India | No Comments »

Comments

Name (required)   

Mail (required)      

URL