Shaken confidence:Even when most of the real estate developers are making lucrative offers to lure customers into buying flats, the buyers are still keeping their options open and are treading carefully. There is an improbability in the market. Transactions, particularly in residential segment, take place when buyers are sure of a steady income stream. When that confidence is shaken, no matter what the salary of a person is, chances are that he will not buy a property.
Property prices:The second issue is prices. The feeling that the prices will further go down has to be mitigated in some way because if there is a feeling that if prices are going to go down further, the buyer will again sit noncommittal and not take a decision.
Yet another issue is: the buyer feels that if he gives money to a developer, what is the guarantee that the project will be completed? If these three issues are taken care of, the buyer will be back in the market.
Some of the real-estate experts feel that the demand has not evaporated, it’s waiting to come to the surface but at the right price, right sentiment and with some kind of a guarantee that the product will come up in the market.To read the views of affirmative Mr. Pradeep Jain, Chairman of Parsvnath Developers Limited and President Of Credai NCR, and Anuj Puri, chairman and country head of Jones Lang LaSalle Meghraj, contradicting Mr. Jain, please, visit - Indian Express
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