For the people looking for a good investment, it may be the perfect time! With the property prices showing a significant decline in the top eight cities, the home buyers have now seemed to heave a deep sigh of relief. Although there were a number of weird speculations over the fall of property prices post demonetization, still there has never been any major cry off in the outlay, and the core real estate sector actually stood tall against all the odds.
However, the current average decline of 14% on the new launches across top eight cities has not only appeased the home buyers, but has also opened a new door for the developers to earn more revenues.
Also, with the builders trying to curtail down ownership costs and improve affordability of the projects, this recent move has truly added to the improvement of the entire sector. When the disparity in price and valuation created a huge mismatch after demonetization, the 14% decline in the residential properties has acted as a relief in the same. Apart from generating better values for the home buyers, it has also given birth to an end number of strategies which will, quite undoubtedly, be beneficial for the builders and the buyers alike.
Nevertheless, as of now, the new launches have been postponed following the improbability in the market in terms of real estate regulator. According to the market dynamics, the residential sales market is in a frozen state and the builders are seen to offer attractive discounts for the projects that have already been launched but unsold till date. It will not only improve the sales by the next year, but is also expected to bring in a balance in the sector.