skyline construction bangalore (2)

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Real Estate Market Unlikely To Witness a Crash by
Skyline Construction Bangalore
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• The prices in the Indian residential real estate
  market have remained stagnant for more than two
  years now and are unlikely to see major
  correction, reflects Magicbricks.com's latest
  Price Trend Report.
• The report consists of the evaluation of the
  weighted average price for 11 major cities - New
  Delhi, Gurgaon, Mumbai, Pune, Chennai, Bangalore,
  Noida, Kolkata, Ghaziabad, Ahmedabad and
  Hyderabad. The analysis has been done for a two
  year period from quarter ending July-September
  2013 to July-September 2015. The database of
  actively listed properties on Magicbricks for
  each city has been used for analysis.
• The report reflects that prices have either seen
  marginal increment or have actually gone down.
  Even in cases where there has been some
  increment, adjustment for inflation erodes any
  increment. Therefore, while developers have not
  explicitly reduced prices, there is an element of
  'time correction' of prices. On an average,
  properties cost same as two years earlier. This
  is the implicit correction in prices.

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• The argument of large unsold inventory leading to
  price correction does not hold true because the
  inventory is not homogenous in terms of
  development status. Projects are in different
  phases of construction and subjected to different
  pressure. Those closer to completion have lesser
  reason to reduce prices.
• And unless a consumer is confident of timely
  delivery, consumers are unlikely to opt for
  discounts in projects at low to intermediate
  stage of construction. The report also concludes
  that while large unsold inventory would continue
  to put pressure on the prices, the market is
  unlikely to see major correction.
• E Jayashree Kurup, head of content and research,
  Magicbricks.com says, "Despite facing rough
  conditions over the past two years, real estate
  industry has ended on a positive note in 2015.
  The market is at its lowest and this is the right
  time to invest in the market.
• Recent government initiatives like the Real
  Estate Regulatory Bill which will help in
  cleaning up and organizing the industry, has
  generated positive consumer sentiments across the
  country. Smart city missions will spruce up TIER
  II cities, resulting in higher accommodation
  capability which in turn will reduce the pressure
  on the TIER I cities."

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