Have real estate prices across major
cities in Indian reached subdued levels? Experts believe that prices in
Delhi NCR, Mumbai and Chennai have either witnessed a slowdown or have
remain unchanged. The affordable category, primarily the sub Rs 20 lakh
budget range is performing much better across major cities in India in
comparison with the Rs 50 lakh budget range and above, claim industry
sources.
According to aurumestates.com, the searches on the site under the Rs 25 lakh budget category is the maximum, standing at 41 per cent during the July to December 2012 period. Second most popular category is Rs 25-50 lakh budget range, with 29 per cent users searching in this type. The Rs 50-75 lakh budget range came in third in the search statistics, as per the site.
Vivin Samuel Mathew, Regional Business Head - Western Region of VBHC says, “The primary reasons for the slowdown are strict monetary regulations due to high inflation, RBI not releasing funds easily making home loans difficult to get by and property prices reaching peak levels as the market has performed well in the last 2 years.”
Top Observations
• Affordable segment performing much better compared to Rs 50 lakh above budget range
• Weak consumer sentiments due to stricter financing, high inflation and impending elections
• Smaller ticket size buyers are more compared to larger ticket sizes
• Suburbs are proving to be the high investment zones compared to city areas
• Increase in raw material cost, labour and transportation costs is converting into higher price for residential projects
There has been a 20-40 per cent slowdown in transactions in the past 2 months in the Chennai and Mumbai market, Mathew added. From affordability point of view, the market is still better but the housing above Rs 50 lakh budget range is taking a hit.
Since the last two years have been good in terms of prices and transactions, this financial year is likely to bear the brunt of the high that the market has enjoyed in the form of a slowdown.
Welcome to Aurum Estates
Aurum Estates is a real estate company that is young, progressive and customer centric. Our distinctly different approach to real estate projects and our genuine concern for our customers are the reasons why we are what we are today- a company that is trusted by it’s customers and a company that is marked by a sense of excellence.Aurum Estates since its formation in 2002, has come to occupy a special place for itself in the highly competitive realm of real estates, offering a range of services that is unmatched in its scope and quality. Our work bears testimony to this fact.We are probably one of the few to be able to offer every solution that comes within the ambit of real estate business: sale& purchase, relocation, real estate investments, real estate consultancy and management.We believe in offering a solution that works and an investment decision that changes the lives of our customer
Contact Us
Vijay Chawla
Aurum Estates
Shop No 1 Main Sohna Road
Opposite Uniworld Garden,
Adjoining indian oil petrol pump,
Sohna Road Gurgaon
(Haryana) 122018 India
Tel : +91 124 3295123
Mob : +91 9811210388, 9999997969
Fax : +91 124 2217833
Email : vijay@aurumestates.com
Website : http://www.aurumestates.com
According to aurumestates.com, the searches on the site under the Rs 25 lakh budget category is the maximum, standing at 41 per cent during the July to December 2012 period. Second most popular category is Rs 25-50 lakh budget range, with 29 per cent users searching in this type. The Rs 50-75 lakh budget range came in third in the search statistics, as per the site.
Vivin Samuel Mathew, Regional Business Head - Western Region of VBHC says, “The primary reasons for the slowdown are strict monetary regulations due to high inflation, RBI not releasing funds easily making home loans difficult to get by and property prices reaching peak levels as the market has performed well in the last 2 years.”
Top Observations
• Affordable segment performing much better compared to Rs 50 lakh above budget range
• Weak consumer sentiments due to stricter financing, high inflation and impending elections
• Smaller ticket size buyers are more compared to larger ticket sizes
• Suburbs are proving to be the high investment zones compared to city areas
• Increase in raw material cost, labour and transportation costs is converting into higher price for residential projects
There has been a 20-40 per cent slowdown in transactions in the past 2 months in the Chennai and Mumbai market, Mathew added. From affordability point of view, the market is still better but the housing above Rs 50 lakh budget range is taking a hit.
Since the last two years have been good in terms of prices and transactions, this financial year is likely to bear the brunt of the high that the market has enjoyed in the form of a slowdown.
Welcome to Aurum Estates
Aurum Estates is a real estate company that is young, progressive and customer centric. Our distinctly different approach to real estate projects and our genuine concern for our customers are the reasons why we are what we are today- a company that is trusted by it’s customers and a company that is marked by a sense of excellence.Aurum Estates since its formation in 2002, has come to occupy a special place for itself in the highly competitive realm of real estates, offering a range of services that is unmatched in its scope and quality. Our work bears testimony to this fact.We are probably one of the few to be able to offer every solution that comes within the ambit of real estate business: sale& purchase, relocation, real estate investments, real estate consultancy and management.We believe in offering a solution that works and an investment decision that changes the lives of our customer
Contact Us
Vijay Chawla
Aurum Estates
Shop No 1 Main Sohna Road
Opposite Uniworld Garden,
Adjoining indian oil petrol pump,
Sohna Road Gurgaon
(Haryana) 122018 India
Tel : +91 124 3295123
Mob : +91 9811210388, 9999997969
Fax : +91 124 2217833
Email : vijay@aurumestates.com
Website : http://www.aurumestates.com
0 comments:
Post a Comment