Real Estate Price Fall by 15-20% in Q1 2008

Posted on May 13, 2008

Filed Under India Property Residential | 2 comments

The residential real estate market all across the country has witnessed a revision in price in the first quarter of 2008. The prices have come down by 15-20%.

Here are some trends (city and area wise):

Gurgaon: 15% decrease in prices of plots
Noida: 20% dip in plot prices
Delhi: Friend’s Colony, GK I and II and Hauz Khas have seen 5-10% drop in rates
Mumbai: prices have stayed the same for the last 3 months
Bangalore, Chennai and Hyderabad: prices have remained stable

The reasons for this have been attributed to:

high interest rates
long overdue market correction as the market is reaching price thresholds

(Source: Economic Times)

Technorati tags: Q1 2008 Real Estate Prices, India Real Estate, India Property Prices, Gurgaon Plot Rate

Comments

2 Responses to “Real Estate Price Fall by 15-20% in Q1 2008”

Shrusti on May 16th, 2008 2:03 am

Oh .. This is getting scary !!!
goldy on September 17th, 2008 2:35 am

WOW that great !!!!!!!!!1

I hope I could buy my house now in Gurgaon

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