Here’s what may take the bloom off the new homes in Mumbai and Delhi
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Every man has a dream to buy his own house, but the sky-rocketing prices of these new launches have made it impossible for Mumbaikars and Delhiites to transform this dream into a reality. The Anuj Puri,
Due staggering situation that this sector is facing, the reality developers aren't even trying to increase prices. Samantak Das, chief economist and director, research, Knight Frank India, told ET, "With absorption rate at new low, builders are trying to get their volume back."
Price stagnation is perhaps the first sign of a
The financial daily stated that once investors realise this and begin to offload their stock, the 'price correction' starts. This was clearly visible in
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The same scenario is evident in
In between 1995 and 2001, the Mumbai real estate market had seen a very big correction owing to a reduction in prices by half in many pockets.
(Image: www.mashsizz.com)
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