Residential Real Estate Prices to go down by 5 to 10%

Posted on November 20, 2008

Filed Under India Property Residential, Residential Projects, Bangalore | 2 comments

Scarce buyers and people waiting for prices to come down has forced property developers to reduce the prices of houses by 5 to 10%, a move which they feel will bring people out who have wait and watch attitude.

The premium properties that cost over INR 3000/- per square feet will come down by 10% and the affordable housing sector will see a reduction in price by 5%.

Recent decline in steel prices have brought the construction prices down by INR 50/- per square feet but the price of land is not going down.

Comments

2 Responses to “Residential Real Estate Prices to go down by 5 to 10%”

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Kiersten54 on March 10th, 2009 4:55 pm

That is good news for the buyers.