Real Estate Gurgaon

Real estate prices all over India are finally inflecting downwards, a trend much anticipated already, reports Financial Express. National Capital Region, Mumbai and Bangalore prices have dropped by nearly 10-20%. Outer Gurgaon prices have dipped as much as 30%.

The trend has been confirmed by real-estate companies and property brokers who claim that they are now selling properties at much lower prices. Gurgaon dealers are selling at 10-20% less.

The reasons primarily center on the lowering of transaction volume, as much as 40% in Mumbai. Higher home loan rates, which have risen from 7 - 7.5% to about 9 - 9.5%, are one reason buyers are shying away from investing in property. Investors are finding it difficult to afford higher equated monthly installments. Stricter norms for issuing land license and the seasonal monsoon effect of dipping property transaction volume, exacerbate the effect.

Source: http://www.myiris.com