Welcome, Guest    
Login  Contact Us RSS Feeds
  Add Property                
Register Free to find a Perfect life partner In AnytimeMatrimony | Equated Monthly Installment(EMI) Calculator | Stamp Duty Calculator | Area Conversion Calculator | Know answer for your Taxation query | Ask Legal Advice @ Free of cost | Vaastu Tips
FAQ Sitemap
Newsletter Signup
Subscribe for our property news letter

News Search
Type a keyword to search.


Select a city to search property news.

News Archieves
September 2012
January 2012
December 2011
November 2011
October 2011
September 2011
August 2011
July 2011
June 2011
May 2011
April 2011
March 2011
February 2011
January 2011
December 2010
November 2010
October 2010
September 2010
August 2010
July 2010
June 2010
May 2010
April 2010
March 2010
February 2010
January 2010
December 2009
November 2009
October 2009
September 2009
August 2009
July 2009
June 2009
May 2009
April 2009
March 2009
February 2009
January 2009
September 2008
June 2008
February 2008
January 2008
December 2007
November 2007
External Links
 ICICI Home Loans
 LIC Housing
 HDFC Home Loans
 SBI Home Loans
 Axis Bank Home Loans
 Tamilnadu Govt Links
adProperty News

Residential segment hopeful as prices stabilise'
Source : The Hindu Published On : 2011-06-04 City : Hyderabad

Residential segment hopeful as prices ‘stabilise'

Having started on a hopeful note, mid-way the year is yet to fulfil the hopes and aspirations of the real estate as far as the residential segment is concerned. Though some sort of positive vibes have been emanating from the buyers, the situation has not yet developed the way the construction industry wishes it to.

The number of enquiries had gone up considerably compared to last year and offices of developers are registering more footfalls but conversion rate to actual transactions have not been that heartening for them.

It's on recovery path definitely and good times are ahead as the prices have stabilised to a large extent, say the industry leaders. After going haywire and peaking unreasonably, the apartment prices have undergone correction and according to them, the process of rationalisation is through.

The most hit after the real estate boom went awry happens to be the projects that came with a spacious design, high-end specifications and naturally a higher price tag. Though these were the most sought after when the boom reigned, now the trend seems to be changing.

“Smaller and reasonably priced projects in a good location are doing well and there is no argument about it,” says Bhawarlal Jain, executive vice-president, Andhra Pradesh Real Estate Developers Association (APREDA).

As Mr.Jain points out, smaller apartments that are put in the market with a price tag that range between Rs.2,300 per sft to Rs.2,500 per sft have been more successful in finding buyers than the larger ones.

Another builder points out that budget housing, with measurements to the tune of 1,000 sft to 1,200 sft and priced at Rs.2,000 per sft or just above it, is not struggling that badly. The projects with size specifications of 1,800 and above are not moving ahead that fast in terms of sale and the same holds good with those priced at Rs.60 lakhs and above, says the developer. “This category is still waiting for buyers”. The response at different property shows and rise in enquiries from prospective buyers, actual end-users, has indeed brought some cheer for the builders.

“The appetite is there but we have to serve the product right,” says another. In a major shift from the boom-time, most buyers are now said to be evincing interest only in projects that are ready or nearing completion. The prices, most in the industry feel, are not going to go down any further. “They have reached what I can describe as rock bottom and will not fall more. This is the best prize that buyers can look to,” says Mr. Jain.



More on Anytimeproperty
City Based Properties
Useful Tools Property News Search Property Calculators Others
© 2019 Any Time Property All Rights Reserved. Home | About Us | Advertise | Testimonials | Help & Support | Contact Us | Careers | FAQ | Feedback | Sitemap
Privacy Policy | Terms and Conditions Developed by Snick Technologies