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Navi Mumbai real estate market plummets

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As per the sources available with www.propertykhazana.com, after growing by soar and jumps, Indian realty is observing a breakdown and it has went profound into ice with over 50% fall in realty deals since two months, as seen by realty developers and industry experts. All this has pressed developers to carry a large fall in prices to give a shove to demand and entice more land purchasers. Land rates in India have dropped by 5-10% across rim suburbs like Kharghar, Navi Mumbai, Greater Noida in NCR and Bangalore’s Hosur Road. Since realty is slipping and land prices idling, it has shaken the developers who are seeing it hard to hold the rate line. Low-priced property also permits the liberty in setting up more profit margins. But, now they are focusing to resist current realty trends in metros. Certainly, they have achieved in their hard works at a level. In main places, elite buildings rates twist relics unhurt.
Vijay Wadhwa, Chief Promoter of Mumbai based Wadhwa Group said to www.propertykhazana.com that, “In Greater Noida main groups in realty like Parsvnath Developers and MGF has slashed prices by 15-20% and on other side the petite developers who found difficult to live has cut the land prices by 8-10% to draw the interest of customers.” Land rates in Navi Mumbai have fallen by 20%, but there are no cuts on main land like Eight Lane Coastal Promenade of Palm Beach Road and Road towards New International Airport. Uncertainty over zoning rules and FAR stated in Delhi’s MP and whopping prices for housing loans have appeared as main features glooming the land purchasers.
Source: NIMMA BENGALURU

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