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Over supply may hinder realty soon

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There will be more correction in residential prices in coming days for the localities of Mumbai and Gurgaon. The realty of this location has already witnessed a price cut of around 20 percent at last financial quarter which is predicted to go more deep from the next year as per the reports at www.propertykhazana.com.
Starting with the rental price correction at major hot spots will further lead to the re-correction of the residential projects for the next couple of months. On a short note with the MD of Asia pacific, he states that “till now Mumbai market is bit away from the oversupply and sale is going smooth with further negations with the buyers”. Although the market of the economic capital has witnessed a heavy correction of 50 percent for the rental segment amounting to Rs 1.1 lakhs as compared to Rs 2 lakhs as per the reading of last financial quarter as added on www.propertykhazana.com.
CMD and president of Omaxe group has revealed that the “buyers are still keeping a distance for the wait of next correction of properties and hence effecting the sale and has least hope of any further price deductions”. But on the other hand CEO of JLLM group states that “the present scenario of the realty is what it should be as because no business can sustain unlimited heights and it has to go according to the capacity of the buyers”. For more updates visit www.propertykhazana.com.
Source: NBTVLIVE

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