Property in India Facing a Down-slide The real estate in India, at present, isn’t faring too well. In spite of all the brouhaha created by the developers in terms of exorbitant prices and artificial demand, the market is facing a slump. The end-users don’t seem too keen to invest in a property in India. As the builders are not willing to slash the prices appreciably, the present rates are beyond the reach of a middle-class buyer. There have been far less purchases in the first quarter of 2013, as compared to the corresponding duration in the previous year.
As India property isn’t getting abated in terms of prices, the interest of the buyers in making new purchases has jettisoned. The market sag is deeper in the cities where prices are all-the-way-up: Delhi and Mumbai being the best examples. To tell the truth, Delhi stood at the second position in terms of % price rise in last two years. A whopping of 60% appreciation in the Capital indicates that the prices are indeed the result of builders’ and dealers’ manipulative deeds.
Again, as the prices have not been curtailed, the purchasers who expected any price correction have suffered a set-back. In such a scenario, many have backed out of the projects that they had engaged in. Also, in cases where projects have got delayed, the purchasers of India properties have wiggled out. This has bogged the market further down. The property in India has also fallen prey to the ever-increasing inflation. The abnormal rise in the prices of commodities has not been backed up with the corresponding increase in salaries. Even a buyer from the upper segment of the society can’t see himself saving enough for investment.
Presently, the number of apartments lying vacant across major Indian cities is appreciably high: a factor that results in imbalance of demand-supply ratio. To fill this gap, the builders are pitching in new ways like offering subvention schemes. But unless the prices don’t get corrected, there isn’t much hope left for them. It is high time that they slash the rates and win-back the much needed faith of the end-users. The real estate market is rarely driven by a buyer’s sentiments and this can only be brought about by offering them what they can pay for.
India’s fastest growing property portal, , makes it possible for the buyers to search for 1, 2, and 3 BHK apartments as well as commercial spaces to buy/rent/lease. The properties that fall within the budget ambit of buyers from different segments have been listed on the site and are available for purchasing.