Home sales have picked up in select Indian markets over the past couple of months, but analysts warn that prices may not have bottomed out yet as developers are sitting on a huge inventory.
Markets such as Delhi National Capital Region (NCR), including Delhi and surrounding areas such as Gurgaon, Faridabad, Noida and Ghaziabad, have seen a rebound in home demand, with several builders launching projects at a discount to market rates.
They call it disruptive pricing. And it has worked. In one day, DLF, Indias largest real estate company, sold almost double the number of flats in Delhi than all builders together in Mumbai in the March quarter. Check out the numbers. DLF sold 1,356 apartments in Delhi on April 7, when it launched a residential project in West Delhi by offering flats at up to 32% less than market rates.
More : economictimes.indiatimes.com
Send an E-Mail for Delhi Property Enquiry!
Related News from Delhi
Value buying is back in business. Realty buyers are primarily looking at the sub-40 lakh category to fulfill their dream home aspirations and it is the 2BHK which has emerged as the preferred format for buyers in these times.
SundayET spoke to a cross section of real estate developers, brokers and bankers to assess the ground situation on the kind of housing format and home loan size that is now gaining maximum flavour.
Most developers agree that the current hotselling flavour of the market is apartments ranging between Rs 25 to 40 lakh. According to Rajeev Talwar, group executive director,
This festive season may be a good time to buy your dream home, for property developers are showering discounts.
Most realtors are already advertising cash discounts of 5-10 per cent on upfront payment and buyers can get up to 25 per cent discount if they book properties and are willing to wait for two to three years until possession. According to consultants, developers may even give 15-20 per cent discount on the price as they are eager to clear inventories.
Normally, the October-December period accounts for 60 per cent of the sales. What is worrying developers is the sharp decline in property
They say, desperate times call for desperate measures. Youve probably heard of realtors in Dubai, Spain, UK and US offering freebies like cars, mortgage perks, holidays and even cash backs to tide over the worsening realty slump.
Developers in Mumbai and Delhi have also taken to luring property buyers by offering free BMWs, Mercedes Benz, foreign getaways and even a flat on a bulk purchase of flats!
Now, the freebie bug is slowly, but surely biting the Amdavadi realtor as well. Even as some realtors in the city offer discounts to bring buyers back to their doorsteps, in a jaw-dropping
Now, if you want to buy a house but do not have the money right now, dont worry! Falling property sales in regions like Delhi and NCR have pushed many developers to offer EMI holiday schemes to boost their sales.
If you have been wanting to buy a house in Delhi or National Capital Region, but do not have the money to back your aspirations, then be dismayed no more. Now, you can walk up to your builder without a penny in your pocket, book a flat, and not pay any equated monthly installment on the home loan till
Stung by recent experiences, many real estate companies such as Tata Housing, Omaxe, DLF and others are planning to impose lock-in periods of up to one year for their mass housing projects.
A lock-in clause means buyers cannot sell their properties within a certain period after booking the property or have to pay a penalty if they do so.
Realtors are doing these because investors or speculators often leveraged volume discounts on property purchases to re-sell them at prices lower than those available to individual buyers. This created problems for realtors when demand slowed, since it put pressure on them to take
