Property price correction in the Indian Real Estate market

Q: Hi, what is the update of the realty market in terms of price correction

Pranab Malakar, Delhi

6th October 2013

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If you are a first-time buyer, financial planners suggest going ahead with the purchase. In such a case, you house is an asset as well as your home, and helps you save on rent as well as get tax benefits. Investors, of course, need to be more careful.

Rajesh, Delhi-NCR

6th October 2013

Comment

Stay away from high-priced properties as demand for affordable properties is much more than that for the premium ones.

Suhail, Delhi-NCR

6th October 2013

In metro cities, there is a trend of big builders offering discounts on existing projects or launching new projects at subsidised rates, due to which the small builders are following suit

Shivshankar, Delhi-NCR

6th October 2013

Comment

Analysts say property prices will remain under pressure for some time but are bound to rise in the long term. The shortage of housing in urban India supports their assessment.

Kajal, Delhi-NCR

6th October 2013

"Many areas of Delhi, mostly prime South Delhi locations, have seen a
price fall of 10-12% in January-June compared with the year-ago period,
according to a report by CBRE South Asia, a property consultancy. In
contrast, prices have risen marginally in Noida, a New Delhi suburb,
while there has been a 5% price rise on the Noida-Greater Noida
Expressway."

Gautam Das, Delhi-NCR

6th October 2013

Comment

Builders, meanwhile, continue to launch new projects and using innovative marketing to bring sales.

Preeti Kher, Delhi-NCR

6th October 2013

"Despite the poor economic sentiment, residential supply spiked during
the January-June period. More than 65,000 units were launched in the
leading cities compared to about 48,000 during the second half of 2012"

Nikhil Agarwal, Delhi

6th October 2013

How much did Delhi Witness the price correction?

Iram Khan, Delhi-NCR

6th October 2013

Comment

"Yes in case of Hyderabad, prices have fallen due to political turmoil, while Kochi has
been seeing a fall in money repatriated by non-resident Indians. "

Harilal, Delhi-NCR

6th October 2013

Comment

Does this mean the price correction will continue?

Pranab Malakar, Delhi

6th October 2013

Comment

Though the pressure on developers is immense, and rising, the real estate market, by its very nature, is localised, each location having its own dynamics.

Anwar Mohammed, Delhi-NCR

6th October 2013

The central bank issued the advisory as these loan products had fine print defining liabilities of customers in case of defaults by developers.

Himangi deshmukh, Delhi-NCR

6th October 2013

Comment

What do you think, what are the primamry reason for it??

Bhuvan, Delhi-NCR

6th October 2013

Comment

The primary reasons for the slowdown are strict monetary regulations due to high inflation, the central bank's new norms for lending to the real estate sector and property prices touching peak levels

Shailja, Delhi-NCR

6th October 2013

The real estate sector has taken another blow. In September, the Reserve bank of India (RBI) advised banks to exercise caution in financing purchases under interest subvention schemes, where the builder agrees to pay the interest for a certain period or till possession of the property.

Sanjay Gupta, Delhi-NCR

6th October 2013

In the April-June quarter, house prices fell in 22 out of 26 cities tracked by the National Housing Bank's Residex (residential index) compared with the January-March quarter. It is only the short-term scenario.

Suhail, Delhi-NCR

6th October 2013

Comment