CREADI asks members to reduce property prices
The Confederation of Real Estate Developers Association of India (CREDAI) supporting the suggestion of Finance Minister P Chidambaram’s has asked to reduce the property prices of housing stock to its members of Punjab.
The members who are against the move said that developers are already selling these inventories at low prices. However developers explained this by stating the the example of 2500 flats under construction in the Chandigarh periphery, which includes Mohall, Panchkula, Zirakpur and Kharar. But members said that developers are not lowering the prices for those 5000 flats which are ready to move in .
Against the downward revision in residential project, CREDAI President for the Punjab region, Kulwant Singh confirmed that the price trend shows a downward slope in realty market. And builders have not revised the prices with increasing input cost which is affecting the market price around Chandigarh for residential sector. Pawan Bansal, member of Punjab chapter of CREDAI also believes the same
CREDAI has asked 8,000 plus members across the country to seriously look into this issue. CREDAI national president Lalit Kumar Jain said that developers community is giving good response in this context.
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Chandigarh, CREDAI, CREDAI members, housing stock, market, market price, property price, Punjab, Punjab realty sector, Real-estate developer, Residential Project
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