NRI reluctant to buy Real estate in Chandiagarh, Punjab.

The eurozone crisis seems to have hit real estate purchases in Punjab hard due to reluctance of NRI's from Europe to invest in the sector in the state. Real estate, considered a natural investment choice for the NRI's originating from Punjab, has been affected due to the debt crisis in eurozone, according to property analysts in the state. They pointed out there has been a severe impact on new NRI investment flow into real estate business for the last one month as immigrants are avoiding new investments into Punjab's property market, a favourite investment segment for them. Property consultants, who advise NRIs for investing into real estate here, further disclosed that overseas Indians are hesitant to dispense with surplus cash due to the "poor" economic situation and negative business sentiments. Banks in foreign countries have tightened the money supply to businessmen which have made the task for them (NRIs) to carry out their routine business activities difficult. The period between October and December is considered as peak investment period for NRIs investment into real estate sector of Punjab. Currently, over 2 lakh NRI's, who migrated from Jalandhar, Kapurthala, Nawanshahar, Ludhiana, Hoshiarpur and other parts of Punjab, are living in other countries, according to an estimate. Lack of NRI investment into property market has also had a negative impact on overall property business in Punjab. Part of the Dream Weave Walk Network 1998-2012