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Housing sales likely to increase in India gurgaon delhi | GET EXPERT ADVISE

Housing sales are estimated to rise this year to 1.92 lakh units in the country’s top seven cities on expectations of interest rate cut and stable prices, according to property consultant India.

Housing sales fell to 1.75 lakh units in the primary markets of seven major cities in 2014 as compared to nearly 2 lakh units in the previous year.

These seven cities are Delhi-NCR, Mumbai, Chennai, Kolkata, Bengaluru, Hyderabad and Pune.

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Supply, however, is estimated to decline marginally to 2.18 lakh units this year from 2.2 lakh units in 2014.

Developers would be sitting on unsold inventories of 27 months at the end of this year as compared to 28 months in 2014-end.

“2015 will see home buyers benefiting from reduced borrowing rates, increased developer-focus on affordable homes, largely stable prices, and better job and income prospects,”

Puri added that this year would definitely be good for the real estate sector as borrowing rates are sure to go down from the current levels and economic activity is gradually picking up.

“With property prices staying stable and good deals being offered by developers in order to clear their inventory, fence-sitting buyers be further encouraged to press the ‘buy’ button,” said in a report.

 

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Stating that developers are now largely focusing on affordable homes, the consultant said this would help in bridging the existing wide gap between demand and supply of affordable homes.

According to experts, developers would become more earnest about right-sizing and right-pricing their offerings.

“Smaller, yet better-designed and more efficient homes will define the residential real estate market in 2015, and selective corrections in some of the over-priced cities will help bring about faster sales for stagnated supply of larger configurations,”

The consultant felt that townships would become more prevalent, while the supply of luxury homes would moderate to align with the slow demand.

 

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Buying a Home is probably the biggest purchase you’ll make in your life. Our Experts will give you Free, unbiased advice on buying and choosing the right home for you. Contact Us Now

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