Leading realty player Parsvnath Developers said it sees no reason to offer lower prices for property on the back of an inflationary phase, which can further surge the costs of housing and commercial establishments.
Debunking the perception that real estate sector is in a slump, the company Chairman Pradeep Jain said it has raised the prices of its properties up to 39 per cent in the last six months on account of rising input costs.
Asked if there is any hope for prices to cool down, Jain said, There is no question of prices going down. Inflation will further push the input costs and we will have no other option, but to pass on this entirely to our end-users.
More : news.in.msn.com
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Residential sector in India has witnessed a slowdown following a spurt in property prices and spiralling interest rates on home loans by about five per cent in last four years, an Assocham study said.
With the repricing of interest rates in the last four years from 7 per cent to 12 per cent and the sky rocketing prices of the property, there has been a slowdown in the residential property market, it said in a paper on Realty Check.
Expressing concern over increasing role of speculators in the real estate sector, Assocham
Real estate experts in Delhi and satellite towns of Noida and Gurgaon have confirmed that property prices are sliding. So, if you want to get the best property deals, this is the time.
Though on record, the brokers in Gurgaon object to any suggestion that property is becoming cheaper.
Prices of plots have fallen. Plots that were sold for Rs 55,000-50,000 per yard one year ago can be bought now at Rs 45,000, a property broker from Gurgaon said on the condition of anonymity. These plots are believed to be in and around Sushant Lok and Gold Souk.
More : ndtvprofit.com
Real estate experts in Delhi and satellite towns of Noida and Gurgaon have confirmed that property prices are sliding. So, if you want to get the best property deals, this is the time.
Though on record, the brokers in Gurgaon object to any suggestion that property is becoming cheaper.
Prices of plots have fallen. Plots that were sold for Rs 55,000-50,000 per yard one year ago can be bought now at Rs 45,000, a property broker from Gurgaon said on the condition of anonymity. These plots are believed to be in and around Sushant Lok and Gold Souk.
More : ndtvprofit.com
The head of Pantaloon, Indias leading retailer, has warned that high property prices in big Indian cities are threatening the countrys burgeoning retail industry and adding to the pressures brought on by soaring construction and labour costs.
Kishore Biyani, chief executive of Pantaloon, told the Financial Times: At current property prices, you cant exist in the modern retail business.
Either productivity has to increase significantly or rent has to come down.
More : ft.com
With the home loan rates hitting the roof and no respite in site, it seems to be a good idea to walk away from property mortgages as early as possible. After all, the northward movement in home loan rates during the last 3-4 years has already sent the monthly budgets of lots of middle class consumers for a toss, even forcing many of them to sell their properties to clear the dues.
Take the case of Delhi-based media executive Sumeet Saxena, for instance, who had bought his house a few years ago on a floating rate loan of Rs 25 lakh
