Q:The realty markets is facing a horrific slowdown, with sales down desperately and the inventory of unsold flats piling up. Even investors in property are facing the heat.
Latest Answer: True Nikhil,
Last week, RBI Governor Raghuram Rajan told that the industry must bring prices down to attract buyers. If real estate developers will able to bring down prices, it will be a big help to the sector. Once there is a feeling that the prices have stabilised more people will be ready to buy.
But the builders have already sold a significant inventory of those projects. If they cut prices now, they will lose their reputation.
Latest Answer: I think it is a good Move by Credai as it can bring down the selling price of the property. We have also seen the rising costs of inputs like cement, steel and sand over the past few years. Now, it was essential for the real estate industry to find ways to control and manage costs as sales of residential properties are standstill.
