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More Incentives for Home Buyers
| January 23, 2009 |  (Be the first to rate this story!) Loading ... |
Generally, in a buyers’ market things are advantageous to the buyer, whereas in a sellers’ market the advantage is for the seller. What is the status of the real estate market now? “Currently we are in a buyers’ market hence it is the best time for a buyer to be out there, looking for the best deal and closing it out,” advises Mr Kumar Gera, Chairman of CREDAI (the Confederation of Real Estate Developers Association of India).
He concedes that the slowdown in the economy has lead to significantly reduced velocity of sales from August-September 08 onwards. The mood, therefore, among CREDAI members at present is one of reviewing strategies, adds Mr Gera, during a recent email interaction with Business Line.
“Many new projects that were to be launched are still on the drawing board, and where projects are being launched the focus is on lower total price of the units being offered in the market. This lowering of prices is being done by way of reduction of size of units and or reduction of the ‘frills’ and amenities in the project.”
News Published Under: Real Estate Developers |
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