A New Scenario to Experience in the Property Market in India: The GST Setbacks Propel the Homebuyers Excuse Themselves

a-new-scenario-to-experience-in-the-property-market-in-india-the-gst-setbacks-propel-the-homebuyers-excuse-themselves
Nov 04, 2017 Share

With the real estate transactions starting to ooze down to a significant extent in last three months, a new bent has been noticed in the real estate sector, i.e. the major cities in the country have run into a steep fall by 32% in last few years. According to a number of reputed sources, the homebuyers were probably in a dilemma and refraining themselves from investing. The keenness to get better prices and discounts in other projects was perhaps the main reason why there has been a sharp decline in sale. When the property consultants in this segment think the property prices are less likely to soar up, they also assume the prices to remain stable.

With the festive season doing not so well, there has always been a tendency for the prices to remain stable. Especially, with the upshots of demonetization being just on the brink of fading away, the property market has come out to be stripped off the expected activity. At the same time, the builders have involved themselves in abiding by the new set of rules & guidelines which, somehow, has abstained them from new launches.  It has not only caused a sharp nose-dive of 81%, but has also given birth to a stability in prices.

As per PropEquity, the sales in top eight cities in India were 22,669 units in July-September while the new launched units stood at 4,313. While the lack of new launches has mainly been caused due to the developers trying to comply with the new rules and decrees, the plummet has also glimpsed the unsold inventory of 4, 46,730 units in the quarter of September. Among all the cities, Noida market was the one to get the worst hit with new launch units. Experiencing a crash around 87%, the Noida market hardly witnessed any new launch in July-September. Also, the Mumbai region got affected with less new launches by 84%, while no new project turned up in Chennai during July-September.

Share Your Comment 0 Comments

Investment Opportunities

  • Vascon and Clover Builders brings to you Forest County spacious 2 bhk and 3 bhk new launching apartments in Kharadi, An 18 acres l...
  • Price on Request
    vascon-forest-edge
    Vascon Forest Edge developed by the Vascon Group, the under construction residential apartments in kharadi with wide range of amen...
  • Duville Riverdale Heights, by Duville Estates, presents an array of 1 bhk & 2 bhk new launch flats at Kharadi, Pune. An ideal...
  • ₹ 65 L - ₹ 85 L
    godrej-rejuve
    Godrej Properties Launching Pune’s first community dedicated to Healthy living, Godrej Rejuve at Keshavnagar. A remarkable p...
  • Price on Request
    purva-silversands
    Purvankara presents Purva Silversands 1, 2, 3 and 4 bhk apartments project in Keshav nagar, Pune which is a project spread across...
  • ₹ 62.6 L - ₹ 98.06 L
    geras-misty-waters
    Overview Gera's builders commence their project Geras Misty Water that will give you ecstatic experience. The property loca...
  • Price on Request
    goel-ganga-platino-iii
    Ganga Platino III , by Goel Ganga Developments presenting premium 2 & 3 BHK XL Residences in Kharadi, Pune. Luxurious livin...
  • ₹ 66.72 L - ₹ 73.27 L
    nyati-elysia-ii
    Nyati Elysia II, New launch residential project at Kharadi, Pune. Developed by Nyati Group offering 2 BHK flats in Kharadi Pune. T...
  • Price on Request
    forest-county
    Vascon and Clover Builders brings to you Forest County 2 bhk and 3.5 bhk under construction apartments in kharadi, An 18 acres lu...
Disclaimer - The particulars contained on the mentions details of the Projects/developments undertaken by the Company including depicting banners/posters of the Project. The contents are being modified in terms of the stipulations / recommendations under the Real Estate Regulation Act, 2016 and Rules made thereunder ("RERA") and accordingly may not be fully in line thereof as of date. You are therefore required to verify all the details, including area, amenities, services, terms of sales and payments and other relevant terms independently. FourrWalls does not guarantee the accuracy, completeness, or reliability of the information and shall not be held responsible for any action taken based on the information contained herein. You are advised to conduct an independent verification before entering into any transaction.
Read More...