The realty sector is expected to face a slowdown in residential property sales on the back of the RBI’s diktat on home loans, Cushman & Wakefield said on Wednesday. But it also said the move might lead to a 5-10% correction in property prices by March next year.
“There will be a slowdown in sales. Developers will look for alternate ways of promotions. Earlier, developers were giving discounts over a period of time, they may now be offering discounts upfront,” Sanjay Dutt, executive MD, South Asia, Cushman & Wakefield, told FE. He said it would be a short-term setback but eventually it would help the industry revive through a correction in property prices.