what’s trending right now?
Most property deals that were about to be signed around November 8 have been renegotiated into all- white transactions but at an average discount of around 10% to 20%
Gestation period for finalising a property deal is estimated to have lengthened from the usual 270 days earlier. People hunting for properties today are likely to finally sign it after March 31, 2017. There’s plenty of supply available in the secondary market, especially in Delhi’s prime markets, as private developers holding on to stock realise they may not be able to get any long-term value or the benefit of capital appreciation
End-users and investors are showing interest in buying properties subject to availability of 10%-20% discounts. There is an increase in the number of end-use queries and investors are thinking of making use of the post-demonetisation lull to invest in big-ticket real estate assets
Transactions may be few and far between but sellers have started showing interest in disposing of their properties, preferring liquidity over holding on to their properties . They are opting to deploy their funds provided they get 10% to 20%haircut discounts in the current market
Transactions may pick up going forward:
Transactions likely to pick up after March 2017 once there is clarity in the market and there is an interest rate cut and in the hope that more sops may be announced in the budget