Realtors delay new ventures in order to tackle inventory
Real estate developers have planned to give rest to the new project launches, instead they prefer to sell the unsold inventory, as this process prevents dropping of price in the declining market.
Analysts say developers have realised that launching of new projects could cut down the unsold inventory prices which were launched at higher costs.
Property prices saw an upturn in the last one year even though sales volumes fell more than 50 per cent in the wake of double-digit interest rates, high property prices and economic slowdown.
As per PropEquity ‘s estimation launches of residential projects in Delhi-NCR, Mumbai and Bangalore have dropped by 30-50 per cent in a year. Developers, who managed to increase prices in the last year to balance the input costs also admit the delay in new launches.
To read more real estate news:
Indian real estate sector is rising from deep
Property prices will not plunge – Indian realtors
Source: The Economic Times
Bangalore, Delhi NCR, Economic slowdown, Interest rates, Mumbai, price, price in the market, Project launches, Real Estate Sales, Realtors
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