Homebuyers should wait for prices to fall.

Abhishek,

27th January 2015

Real estate News in Delhi

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Replies (7)

Hi Abhishek,
I saw one of your responses which recommends HM Symphony. Wondering what would be the best price to negotiate for Concords towers at Symphony which is ready to occupy within six months. Your inputs will be of great help to prospective buyers like us. I would greatly appreciate if you can drop me an email with your suggestions & market price to me at mail2bansi@gmail.com

Bansilal Haudakari, Apartment Resident

20th April 2015

Comment

You are absolutely right joy,
Considering the high inventory in many segments and markets, the pressure on developers is increasing. This may tilt the scale in the buyers favour. So, if you plan to buy a house, study the price trends as these vary across micro markets. If you feel that the prices are likely to come down, wait for that to happen.

Balwinder Singh,

27th January 2015

Comment

According to me If the current situation of low sales continues for some time, price correction is likely, at least in some areas. Therefore, for those looking to buy a house for investment, it makes sense to wait. However, for those looking for a house for self use, choosing from ready-to-move-in projects is better as it reduces the risk of delay and no big price correction is expected in this segment.

Joydeep D,

27th January 2015

Comment

Developers are hopeful that the coming budget will have incentives for homebuyers, but considering the significant changes made in the last years budget, especially for home loan borrowers, not much can be expected this year. A few developers also admit that there is a need to reduce prices, especially in certain locations. Developers also feel that now home buyers are looking for reasonably priced properties. Demand and focus in recent times has shifted to affordable housing and thats where developers are working currently.

Balwinder Singh,

27th January 2015

Comment

Developers were eagerly waiting for a rate cut by RBI, which would be passed on by lenders to borrowers in the form of cheaper interest rates. However, small reductions in interest rates will not help much. A minimum cut of 200 basis points will be needed to fill a change in sentiment.

Joydeep D,

27th January 2015

Comment

You are joydeep,
Year 2014 saw a decrease of 48% in the number of project launches in the top seven citiesNational Capital Region, Mumbai Metropolitan Region, Bengaluru, Chennai, Hyderabad, Kolkata, and Punecompared with 2013. Even though there was a significant decline in number of launches, inventory of unsold units increased.

Balwinder Singh,

27th January 2015

Comment

It is seen that in almost all the projects, there are units available for sale, and for almost a year, there has been no increase in price, rather, property brokers are offering discounts on their last quoted price. There are many people in a similar position who think that property prices in some areas went too high during the realty boom and have significant scope of a price cut. Besides that, the overall depressed realty market is rising pressure on developers and they may reduce prices.

Joydeep D,

27th January 2015

Comment