Thursday, April 25, 2024

Real estate business yet to pick up in Shillong


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By Our Reporter

SHILLONG, March 25: The real estate business is yet to flourish in Shillong unlike Guwahati, the nearest city.
Assam’s principal urban centre has several players offering flats at fairly affordable rates with modern facilities such as parks, gyms, and swimming pools.
Lately, in some parts of Shillong, some private owners have started renting or leasing out flats in their small two or three-storey buildings. But prospective clients find the rates of these flats high.
A 2BHK or 3BHK flat in these buildings costs Rs 70 lakh to Rs 1.5 crore while premium flats in Guwahati cost Rs 25-60 lakh.
In Shillong, the owners of buildings with flats to rent or lease out prefer to deal with members of their communities. This is often not the case in Guwahati where many people from Shillong have acquired flats.
Many people looking for flats in Shillong have rued the lack of any government policy to let real estate developers or builders acquire large chunks of land – not even in New Shillong Township – to construct affordable housing units.
Shillong, flat seekers say, also has the problem of middlemen making interested buyers run from pillar to post after taking commission.


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