With the Supreme Court clearing the ongoing construction work at the Commonwealth Games Village, real estate experts feel the observation will give the much-needed boost to the sale of the super deluxe flats.
The developer of the Games Village, Emaar-MGF, has been struggling to find buyers for the project for the past one year as the sales have been low due to the economic downturn and the legal controversies.
“The Supreme Court’s observations certainly mean that sales will pick up. ,” said Kaushal Bhansali, an agent handling sale of the flats. “Though many investors approached us since Emaar opened bookings (for the flats), but they had apprehensions as the matter was sub-judice. A frequently asked question was whether Emaar would refund the money if the court ruled that construction would have to be stopped,” he added.