Real estate prices drop in major metropolitan cities except Mumbai

Must Read

Jharkhand polls for 81 constituencies from November 30 to December 20; counting on 23rd December

Addressing a press meeting today, Chief Election Commissioner Sunil Arora has announced the poll dates for Jharkhand Legislative assembly....

Congress forms six-member committee of AICC to review situation of NRC in Assam

In a bid to review the condition of Assam state after the implementation of the NRC exercise, Congress party...

Shiv Sena elects Eknath Shinde as party’s legislative leader; Sunil Prabhu appointed as chief whip of party

In a striking breakthrough, Shiv Sena elected senior minister Eknath Shinde as the party's legislative leader today. It has...

Property cost in the major four cities of India, Delhi NCR, kolkata, Chennai and Bangalore slipped by 1% as compared to property prices a year ago. A fall of 3% was reported in the Delhi and kolkata, while in Chennai and Bangalore prices dropped by 2%. The above findings are of an real estate advisory firm, Liases Foras Real Estate Rating & Research Ltd.

As per the released report, the prices of properties in Mumbai Metropolitan Region(MMR) remained same while prices in Pune, Hyderabad and Ahemdabad surged. The report also stated that Delhi NCR was the only region which witnessed the fall in sales. In the third quarter of this fiscal, Home sales went south by almost 17% in Delhi NCR. The period recorded sale of 13,279 units, much lower than the earlier sales.

Earlier, the real estate industry experts speculated a dip in real estate business due to the GST and Real estate(regulation and Development) Act (RERA) 2016, but increase in limit of size of flat for subsidy under Pradhan Mantri Awas Yojana (PMAY), extension of Credit Linked Subsidy Scheme (CLSS) for Middle Income Group (MIG) and others have definitely negated the negative effects of the GST and RERA 2016 on the real estate business.

On being asked whether the interested buyer should buy property is the current scenario Pankaj Kapoor, managing director, Liases Foras, answered “If you are looking to buy a property for end use, you need to check the builder’s past deliverable records. Since there is a lot of ready inventory available you can consider buying ready-to-move-in houses and also save on GST. Here the execution risk gets nullified. Ensure that there is RERA registration.”

He further advised on the analysis that a sane buyer should do some analysis before buying or investing into a property. The investor should do proper analysis about cost the house, cost of the loan and the charges incurred due to the legalities and other miscellaneous cost. Also, the buyer should take into cognizance the factors like affordability and problem associated with property being non-liquidity asset.


Please enter your comment!
Please enter your name here

- Advertisement -

Latest News

Speculation grows on Aadhaar linkage with property

New Delhi, Nov 16 (IANS) Over the last 2-3 years, there has been off and on buzz about an...

SEBI mandates linking client ID with demat account

New Delhi, Nov 15 (IANS) Aimed at preventing diversion of money, markets regulator SEBI on Friday announced norms to map clients Unique Client Code...

Kota residents protest against Mardani 2, meet LS speaker

Jaipur, Nov 15 (IANS) Kota residents on Friday met Lok Sabha speaker Om Birla, an MP from Kota, to register their protest against the...

Defeat vicious designs to restore institution’s glory: CJI

New Delhi, Nov 15 (IANS) Outgoing Chief Justice Ranjan Gogoi on Friday said the judicial system is facing new challenges, which emerge from within...

Air traffic controller in Pak helps plane from India

Islamabad, Nov 15 (IANS) An air traffic controller in Pakistan on Thursday saved a plane flying from the Indian city of Jaipur to Muscat,...
- Advertisement -

More Articles Like This