Builders raising up property prices to trick buyers
The property sale has not picked up but the builders are increasing the prices to attract property buyers.
According to the real estate brokerage firm, Groffr.com’s report, in the last three months (August-October) the property rates have gone up almost by 6 percent. It is said that the developers are mainly hiking rates in projects which are ready-to-move in and such ready possession inventory is very low in the market. Buyers need not pay both equated monthly installment (EMI) and rent.
Atul Nemade, a real estate expert, said that the developers have increased the property rates just to attract buyers and wait for prices to fall. The input cost has gone up by almost 40% in the last one year is one of the reason for the increased property rates as said Lalit Kumar Jain,president of CREDAI.
Builders, CREDAI, Groffr.com, Mumbai developers, Mumbai Properties, Mumbai real estate, Mumbai real estate sector, Properties in Mumbai, Property Buyers, Property rates, ready to move, Real estate in Mumbai, Realty News
