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« Fresh Rate Cuts by RBI can Boost Housing Demands | Home | Real Estate Firms Plan Investment in ‘Recession Proof’ Education Sector »

Real Estate can Revive in 6-12 Months- Parsvanath

The real estate sector has been bogged down by sliding prices and the tight liquidity situation. However, experts at a real estate summit in Mumbai believe that a revival will happen in the next six months. “There has been an increase in the velocity in sales, month on month,” said Kumar Gera of Gera Developers, also the president of the Confederation of Real Estate Developers Association of India (CREDAI), a realty body. “In terms of prices, I think we are very close to bottoming out,” Gera added.

Pradeep Jain of Parsvnath Developers said the liquidity situation for the real estate industry had improved but mainly due to new sales and internal accruals. “Financial institutions are still not lending,” he said. Jain said he hoped the real estate sector will bounce back in six to 12 months as there were enough signs for that to happen.

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