Could residential demand pick up if prices are rolled back to levels prevalent a few years back?
Yes, seems to be the answer going by the experience of one of the largest developers in Mumbai — Housing Development and Infrastructure Ltd (HDIL).
Property buyers in Mumbai appear to be looking for 2004 prices in the current economic scenario, going by the responses that HDIL got last fortnight.
One of the large-scale real estate developers in Mumbai, HDIL has executed 32 projects spanning over 28 million sq.ft of saleable area, besides four million sq.ft under slum rehabilitation schemes in the city since 1996.
More : thehindubusinessline.com
Send an E-Mail for India Property Enquiry!
Related News from India Properties
Indias blossoming economy
The acceleration of economic growth in India recently has generated upbeat assessments that Asias other giant is finally becoming as dynamic as China, but also warnings that the economy is overheating. With GDP growth in the July-September quarter rising to 9.2% year on year, the headline news is encouraging. But there are crucial differences to the picture in China. Inflation has nearly doubled over the past 12 months. Equity and housing markets look overbought and the current account has moved sharply into deficit. Besides interest-rate hikes by the Reserve Bank of India (RBI, the central bank), little is being done
Property – upward spiral or downward plunge
With property becoming unaffordable to many, is it time for a correction in the realty market? Or, with an estimated shortfall of 48 million housing units in India by 2012, will the intrinsic demand for property sustain the current boom? Property prices have been racing skywards across the country over the past two years. Most cities and towns are witnessing construction frenzy. From metros to tier II and III cities, real estate prices have seen phenomenal hikes ranging from a 30 to 100 % appreciation. Experts believe that this spiralling up of property prices has not only been triggered by
Property prices likely to go up in December
If you are looking to buy a house in Mumbai or in the National Capital Region be ready to take a big hit on your pocket. But south India may still hold a bargain or two, reports CNBC-TV18's Sunanda Jayaseelan. Real estate developers have started hiking prices of their residential projects in Mumbai and the National Capital Region. So, if you are in the market to buy a home, you may want to look elsewhere like South India, for instance. Experts say prices in this region are still stabilising and in some cases, even correcting. Let's take a look at price movements
Real estate market upbeat across board
The real estate market in India has been doing exceptionally well for the past 10 months. While residential and retail prices have shot up, commercial prices in all major metros have been keeping pace with inflation, said Anuj Puri, Managing Director, Chesterton Meghraj, an international property consultant firm. Puri spoke to Business Line about the the commercial, retail and residential markets in the metros. He said that prices in the commercial segment have kept up with the inflation rate - the lease price is between Rs 20 and Rs 30 per sq.ft. The main reason for this is the information
Indias growth exceeding the speed limit
Indias curries can be even hotter than the fieriest of Chinese hotpots; likewise the temperature of the two economies. Despite widespread claims that Chinas economy is overheating, actually Indias shows more signs of boiling over. In the year to the second quarter, Indias GDP grew by an impressive 8.9 per cent, while Chinas more up-to-date figures show even more breathtaking growth of 10.4 per cent in the year to the third quarter. But to judge whether an economy is too hot, one needs to compare this expansion in actual demand with potential supply, ie, the sustainable rate of growth. Despite