Real estate prices continue to dwindle across India

“What goes around comes around”- There was a time when realtors ruled the roost and now the table has turned around, towards the home buyers. Builders are alluring the home buyers by giving them an array of options and spoiling them for choices.  

The story of real estate all began in 2004-2005, when there was a sudden boom in land prices and people rushed in to acquire lands. The prices for land kept spiraling upwards for some time until 2010-2012. In this period, the entire market was flooded with new launches. This resulted in excess inventories than the number of consumers.

In the last 10 years, real estate market has seen some highest highs and lowest lows. The market saw a huge demand in 2004-2005 and 2010-2011. Real estate was going strong and had the capacity to rebound to normalcy in spite of financial crisis in 2008. But, due to a total mismatch of surplus inventories to the number of customers in 2010-2012, the rates started spiraling down and there is still no hint of it going back up.

Since 2014, the real estate market is in the rut; the rates aren’t changing even a bit. This has caused the builders to sell luxurious homes and plots at a rock bottom price. They are also offering a wide range of choices that are irresistible on the part of the customers. It’s time for the home buyers to take advantage of this situation. They have the liberty to look around more homes or plots from many builders; big or small. They also have the levy to negotiate the prices with the builders.

Customers are expected to take certain care before pinning down the choice of homes or plots available in the market. Many real estate companies are offering homes at an unbelievable price as a pre-launch offer. The customers have to be on guards and do thorough research before buying it because builders are delaying the projects unconditionally, which is resulting in the customers backing out of the housing projects and losing their desired homes and money .

Home buyers can make the most of the offers that are going on as the time is right for big investments but always keep a watch out on your buy outs as there are people who are good at missing schedules and proposed deals.