Experts divided on realty opinion

Q: One section expecting a further correction in realty prices while others are anticipating a recovery between an improving macro-economic environment.

Praveen Modi, Mumbai

22nd July 2015

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Replies (2)

Hey guys,
But discounts by builders/developers and 3rd time Repo Rate cut by the RBI have increased significantly in the secondary transactions market and distressed real estate liquidation by lenders who have not been repaid by developers, is becoming increasingly common.

Arup rajan, Mumbai

22nd July 2015

Comment

In spite of that, a few localities in Delhi, the industry has not seen any major base price corrections in most cities. Most of the price correction that we have seen is in the form of discounts, waiver of floor rise rates, waiver of stamp duty and interest subvention schemes offered by builders to consumers.

sadhana,

22nd July 2015

But some of the expert belief that the real estate prices could see an appreciation of up-to 8%in the next 2 yrs. I also heard that the realty prices in most of the markets have touched the bottom and the possibility of prices coming down further looks unlikely.

Diptarishi dev, Kolkata

22nd July 2015

Yes, property prices have corrected sharply over the past few months in some of the leading cities in India. As per the market expert property market to continue dependent due to oversupply and slow demand from consumers, and it would take at least 11-15 quarters for the liquidation of unsold inventory in prime cities like Mumbai and the National Capital Region.

Arup rajan, Mumbai

22nd July 2015

Comment

It's true.....Arup,
The unsold inventory as on December 2014 stood at 2.04 lakh units and 1.92 lakh units in Mumbai and Delhi respectively. While th prices which the real estate agents quote continue raised, transaction prices have already fallen by 10-15%, and real estate brokers are saying that a further correction is a must for inventory liquidation.

Diptarishi dev, Kolkata

22nd July 2015