Srinagar, June 4 -- Kashmir's urban areas, Srinagar in particular, have always been at the heart of its economic activity as they always are. Property investment in these areas wasn't just about land, it was about the belief that the city would remain the center of growth. But stagnation in residential demand, declining commercial activity, and the uncertainty have made many rethink where their money should go.
In recent years, property prices in the Valley have soared as demand outpaces supply. In some areas, real estate rates are now over Rs 14,000 per square foot. But if this is plateauing now, it also shows a certain stagnation in the local economy. It could very well be the result of the rising unemployment and also declining retail b...