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Tuesday, February 5, 2008

Is real estate market slowing down?

I can see the smile on your face!
It means you have not booked your flat yet.
Because those who have already booked the flat and do not wish to invest in the Pune real estate market always talk about 'Pune real estate boom', 'appreciation in the Pune real estate' and the 'price rise in the Pune realty'.
They enjoy boasting about overpriced real estate projects launched in undeveloped, fringe locations of Pune, like Ambegaon and Wagholi.
They never wish but you wish and pray for the property prices to comedown.
Right?
Come on read this debate, you will enjoy it:

"A slowdown will help long-term growth", says Sanjay Verma, Executive MD, South Asia, Cushman & Wakefield:

The momentary uncertain economic scenario, slowdown in export-driven industries, high interest rates and lackluster credit growth in the real estate markets have raised the question of a slowdown in real estate market in India.

"Correction is unavoidable given high prices" says Navin M Raheja, Managing Director, Raheja Developers:

There is no denying the fact that there have been corrections in property prices in both primary and secondary markets over the last couple of months.

But all such corrections have taken place only in certain pockets that were already overpriced. Going forward, affordability has to be a key criteria, and a correction is unavoidable in all projects, launched at prices the salaried middle class cannot afford.
- Debate-Opinion-The Economic Times

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