Construction output in India fall

Construction output in India falling on the background of oversupply and failures in the construction of housing, according to OPP. According to the research company Liases Foras, in Delhi and the satellite town of the volume of new construction declined in 2011 by 39% compared with the corresponding period last year. In the city of Hyderabad in southern India and in Mumbai, the situation is similar. According to the executive director of Liases Foras punk Kapoor, the reason for the reduction of construction - a surplus of housing, which was released on the market in recent years: only in Noida near Delhi was completed nearly 10 million square feet. meters of housing. In addition, as noted by the representative of Cushman & Wakefield India, the authorities began to give less building permits. A source: OPP