Affected by the weak home sales, some top Mumbai Developers have cut down the prices for their new launches.
A few days after the news came out that the property prices have shot up in many of the cities including Delhi, Bangalore, etc., some Mumbai developers said that they have cut down the prices for new launches. Continue reading
In the first quarter of 2013, the new project launches are fewer compared to the last quarter of 2012. New project launches were more in the last quarter of 2012.
New launches fall in Mumbai.
MUMBAI: The first quarter of 2013 witnessed a sharp fall in the number of new launches in Mumbai. The new figure however is compared to the number of new launches in the last quarter of 2012.
The last quarter which is the season of festivals like Diwali, usually have larger number of new launches. Liases Foras reported that the number of new launches were the maximum in this quarter across the country.
Managing Director of Liases Foras Pankaj Kapoor said that Mumbai has only a fewer new launches compared to the last quarter of 2012. The developers are postponing the new launches due to the weak home sales.
Home sales are yet to pick up in the city. The demand for housing units is still not so impressive. This negative market sentiment has been considered as the reason which forced the developers to postpone their new project launches. Continue reading