Indian’s and NRi’s investing in property in India this Diwali face a strange scenario.
Mumbai property developers are slow to launch more projects while Bangalore and Delhi developers are cutting some real estate prices.
The trend of lower launches is truer in Mumbai than other cities. Unitech, Godrej Properties, JP Infra and Sobha Developers, for example, have launched multiple projects in cities other than Mumbai in the past few weeks.
In Mumbai and its suburbs, there isn’t much talk of new launches barring a couple from firms like Rustomjee, Pallonji, Lodha and Bombay Dyeing.
It’s not just about permits. A lukewarm demand has developers treading with caution. There is no indication just yet that home prices will come down. However, experts say there are certain hidden discounts that developers are offering.
Watch the full video report on TheMoveChannel.tv:Google+