Home buyers worry as prices likely to increase
Home buyers in Gurgaon are worried over the high court’s order of ban on issuing fresh licences to builders due to water scarcity in the city.
Home buyers are apprehensive as the order might push the delivery deadlines and cause a hike in real estate projects.
Property prices are likely to go up citing an increase in construction material and labour costs. Since the court has banned issuing new licences to builder, the impact will be felt on buyers on existing projects, said Deepak Gupta.
The price rise and delay in project completion will be an added burden to stay in rented accommodations, said Vineet Setia, a buyer.
Prices of some apartments in Gurgaon have increased over last seven years, and the prices of plots even more said Sonia Vaid, a broker.
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Source: Times of India
Builders, Construction material, Gurgaon, home buyers, labour costs, project completion delay, Property Prices, Real estate projects, Real Estate Sector, rented accommodations, Water scarcity
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