With buyer thought subdued, developers are finding it tough to sell apartments/flats, implying prices could be correct a proper bit.
Experts say there are very few takers for homes, mainly high-end-ones-even if these are ready to move in. An assessment by Colliers India notes, “Huge available inventory and new upcoming supply is undermining short term appreciation in capital values, both in the primary and secondary market.”
Home prices are very low in cities such as Pune, Mumbai, Delhi- NCR than they are were in 2015, Data shown by Cushman and Wakefield show prices have corrected in certain pockets.
The second phase of project of Godrej Properties Trees in Mumbai has not get better response only 100 or near to it has been booked which is very less than the first phase of project. The listed company isn’t confessing the numbers of flats/apartments on any offer.
Sobha Developers has lost its FY16 with quarter of March work performance twisting out to be very weakest in the last four.
Sales in NCR region are very much slow. In Gurgaon the demand of Vatika and Tata Housing property has been simple and quiet.
Data from property firms show launches are getting up step in Mumbai, Pune and Bengaluru. In period between Januarys to March launches were constantly higher by 32% in Bengaluru, 34% in Mumbai and 12% in Pune. A Colliers India report said. Cushman & Wakefield estimated new launches have escalated by 25% year-on-year, after falling over 60% in the past two years. Criticism following the March Quarter conclusion indicates companies are opposed away from sales projections at best they’re talking of a status quo. Real estate business has been better in Bengaluru; Prestige Estates and Brigade Enterprises have been easy to blow through sales.