Home selling in India is seeing an upward trend in some parts of property markets, but property experts say recovery has some distance to go. Buyers in India are waiting for more price reduction.
Developers have resumed their construction work after a long gap and are concentrating on cheaper projects to beat credit crunch. Chairman of Axiom Estates(a real estate agency),Rajesh Goenka, said that though the trend is improving but recovery might take few more months. Real estate developers have spent many months lying low because of high interest rates and economic downturn.
Home sales have not spread evenly across all the regions, even though the prices of real estate have been low by 30-40%.
According to home buyers, the rates have not fallen as much as they have been estimated to have. Developers have hopes that prices will continue to remain firm and investors are hoping for good return in rates.
Developers have resumed their construction work after a long gap and are concentrating on cheaper projects to beat credit crunch. Chairman of Axiom Estates(a real estate agency),Rajesh Goenka, said that though the trend is improving but recovery might take few more months. Real estate developers have spent many months lying low because of high interest rates and economic downturn.
Home sales have not spread evenly across all the regions, even though the prices of real estate have been low by 30-40%.
According to home buyers, the rates have not fallen as much as they have been estimated to have. Developers have hopes that prices will continue to remain firm and investors are hoping for good return in rates.
