"Indian property market is observed to be severely gripped by waning price effects of current sagging economical conditions pushing property builders on the edge to struggle in selling residential and commercial units at even lesser rates, freebie offers."
Indian property market seems not enough lucrative enough to impress property buyers and investors. Most of the potential buyers are stepping back from real estate investment considering the current phase not ripe and right to show them best deals. The downturn in the Indian property market is becoming more and more prominent through several instances where buyers and property owners have experienced huge loss. One of the Delhi based property builders has signed for a deal worth of Rs. 18-crore deal In 2008 for a house of 2,925 sq. ft. in upscale environ of New Delhi, Defence Colony and now he is only hoping for a return of around 30%. He has reported that though few buyers came with only 9 to 10 crore INR, have walked out in the midway, as per news confirmed by the broker who has been responsible for property negotiation.
As the new financial year is approaching, real estate sector of India is shedding its capital value on an average 40 percent on upcoming projects. In cities like Mumbai where increase in property prices has been a norm, well as of now, has been reversing by one fourth of Rs. 25,000 to 45,000 as per the accessibility of amenities and time span of the building. Not just Mumbai, economic downturn is now ubiquitously impacted on properties throughout India including Delhi, Bangalore, Kolkata etc.
As the new financial year is approaching, real estate sector of India is shedding its capital value on an average 40 percent on upcoming projects. In cities like Mumbai where increase in property prices has been a norm, well as of now, has been reversing by one fourth of Rs. 25,000 to 45,000 as per the accessibility of amenities and time span of the building. Not just Mumbai, economic downturn is now ubiquitously impacted on properties throughout India including Delhi, Bangalore, Kolkata etc.
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