REAL ESTATE NEWS
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Vaastu Impacts Real Estate Market
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The elements of Vaastu have come to play a role in the real estate market. Property dealers and developers in Delhi say people are concerned with Vaastu factor while buying a property. Looking for Vaastu conforming properties, positioning things within the house according to the directions specified by Vaastu, are trends that are fast catching up. It is no more surprising to see builders advertising that their buildings have been designed according to Vaastu.
Over the years, there has been a clear-cut demand for Vaastu compliant properties but earlier people did not have many options. Because of this change in the dynamics on account of Delhi Metro, which has lead to extension of city, the Vaastu compliant property prices in the areas, which got connected by Metro Rail, have more than doubled in the last two years.
Are Real Estate developers now forced to follow Vaastu while designing their structures? Many of my clients have agreed that Vaastu was significant to impact their house purchase. “In a place like Delhi, Vaastu impacts demand significantly. Buildings and plots that don’t conform to Vaastu command a lower price”, says O P Bhalla a city realtor. Those who make an investment in property are concerned about the return on investment and they believe that Vaastu compliant property can fetch them at least 20 percent more from the non-Vaastu compliant one.
Source: The Financial Express, Dr Ranjeet Mehta, July 15, 2007
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