MARGAO, Feb. 17 -- After more than 6 years of Goa's Mining Ban, the lack of free flow of cash in the Real estate market has taken its toll on the construction companies in Margao. While three major constructions companies have virtually shut down, others are struggling with finding buyers for their inventory. Lower end employees such are drivers who were working for the last ten years have been the pink slip. In South Goa, an industry observer and raw material supplier said there are around 800 to 900 new flats up for sale but there are no customers. Some companies dropped their prices from Rs 56,000 per sq mt to Rs 45,000 per sq mt.
Speaking to Herald, a real estate consultant informed that builders are skeptical of investing in propertie...