The residential demand is still going strong, but there is stagnancy in the commercial market
How is the real estate market reacting to the scenario post-recession?
The market is reacting positively and there is demand from the customers. The residential demand is still going strong, but there is stagnancy in the commercial market. If one goes through the registrations made at various registration offices in and around Mumbai, one can see over a lakh houses registered, which is a huge number. And industry sources say that the companies financing housing loans have sanctioned loans to more than 4-5 lakh people. The figure indicates that there is a demand. If one sees the MHADA housing scheme, about 8 lakh people bought the forms in different segments, but only 3 lakh people could get flats. So, the remaining 5 lakh are potential buyers who are really serious in buying a property.
The prices are high due to various reasons. One is due to Direct Foreign Investment (FDI), which indirectly demands developers raise the price. But the property rates should be corrected.
The concept of 1BHK flats has become a thing of past, but there are many buyers who can only afford one 1BHK flats?
I agree that there are many buyers for 1BHK flats due to the cost factor involved. A 1BHK would
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