Global recession hits Madurai too

There is a record of decrease in land transactions for the past couple of months in the tamil nadu state itself. Looks like there is a loss of Rs.50 crores approximately lost in revenues for Government of Tamil Nadu on land transactions.

This is a bad sign to be noted. Hopefully it is temporary and everything would come back. There is a little apprehension in everyone's mind whether market would be down for sometime or will it be back to normal!

People are holding off in investing in any assets. Instead, it is safe to keep everything in cash - may be!

I will be talking to realty consultants in Madurai today. I will get back to you all with some expert views on this.