This year, Navratra season brought along with itself the hope of revival for Real Estate industry. However, not much moved even during the festive/auspicious season this year. Subdued advertising and ‘a low on conversions’ real estate transactions marked a strikingly different Navratra this time.
If our sources are to be believed, there were between 20 to 30 flat/plot/villa sales in whole Yamuna expressway region during the season. This extent of dismal sale for a region that has 30k to 40k vacant inventory is a clear indicator of lack of demand in the region.
Similarly, the count of search inquiries through online real estate portals like magicbricks, 99acres and makaan for all corners of the country are also a distress indicator.
It is an end user’s market as of now and the investors are trading with caution. The already available abundance of supply in the market leaves little scope for resale growth as well.
However, the good builder projects and premium units in a project are still yielding good chunk of money. After all, that seems to have been the mantra throughout the season.
Last updated: March 28, 2015 at 20:28 pm