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Latest Answer: One trend which I see frequently happening as a result of this is once the project gets delayed, the cost of the project sporadically goes up and more delay adds to the problems of the developers. When banks do not give loan for buying land, the developer resorts to raising the money through private money lenders and private equity. The private money lender then enters the picture offering loan at high interest rate.
Latest Answer: Then it should be a good news for the buyers as the funding source of real estate companies is drying out. Real estate companies have to repay the interest on the loans they had taken on previously. They also need to pay interest on it. Moreover, there are projects that are still being built and need to be delivered by a certain date. Money will be needed for all these things.
Latest Answer: At the same time the statement indicates that in case any demolition had already been planned or was in the pipeline, the agency connected must look for prior approval of the Urban Development Minister. The order would not apply to action taken in pursuance of court orders and a review of the existing policy governing demolitions would be completed by it.
Latest Answer: It is also notable that Mumbai and Delhi NCR are struggling with inventory more than the rest of the cities. In some of the other cities like Pune or Bangalore, the balance is very much there, we don't anticipate any price correction but NCR, MMR and the border areas of several cities where too much of activity has happened these areas have grown too fast for the appetite of that area, prices should come down.
Latest Answer: In spite of that sales volume remaining at an all-time low and inventory levels up, property prices in all the 6 cities have moved up. While Mumbai saw the maximum rise of 10%, NCR observed the least with 3%. Increase in property prices is basically because of increasing inputs cost for developers. The current economic indicators look positive, though the real effect will only be felt by the second half of this year.