Homebuyer interest in property market grows

Homebuyer interest in property market grows

real estate sector
Interest in property market picks up

Things are looking positive for the real estate sector with consumers flow into the market and enquiries from homebuyers increasing.  Going forward, sales are likely to pick up this year.  Enquiries over ready-to-move-in properties have gone up and several developers are offering no EMI for a few years or low EMI schemes to liquidate ready stock.  Such schemes were earlier available only for under-construction properties.  Under these schemes, buyers are asked not to pay EMI for two years or pay a lower rate of interest of 3.99% for a longer tenure.  Consumers are also making enquiries about affordable housing stock and a new set of buyers with budgets of Rs 25 lakh and more is emerging.  This is also a good time to buy property as attractive discounts and deals are being offered by developers.  Budget 2017 and demonetization had reset the market, but prices have stabilized and the scenario is likely to improve in the next few months.  Some of the projects in Delhi NCR offers discounts of almost 7% to 10% for both complete and under-construction properties.

Source: naredco.in

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