take­five from one cri­sis to an­other

Hindustan Times (Chandigarh) - Estates - - FRONT PAGE -

Lehman cri­sis Septem­ber 2008: The In­dian re­alty mar­ket was stumped by the global eco­nomic cri­sis. In­vestors dis­ap­peared and the In­dian re­alty mar­kets came to a grind­ing halt. Projects were stalled due to a huge liq­uid­ity cri­sis. The govern­ment re­sponded by cut­ting in­ter­est rates

De­mon­eti­sa­tion Novem­ber 2016: The im­me­di­ate im­pact of the note ban was felt on the re­alty sec­tor. NCR mi­cro-mar­kets saw in­ven­tory lev­els ris­ing as against la­tent de­mand for af­ford­able hous­ing. There was an ob­vi­ous sup­ply­de­mand mis­match. Prices crashed in the re­sale mar­ket

Mak­ing sense of stats: 2008 saw sales vol­umes go­ing down by 27%, in­di­cat­ing neg­a­tive growth. The year 2016 also pro­jected neg­a­tive growth of 9%. The fourth quar­ter num­bers show that sales vol­umes drop­ping by 44% and new launches by a mas­sive 61% year-on-year

Roadmap for builders: De­vel­op­ers need to take a relook at the pric­ing, size and con­fig­u­ra­tion of res­i­den­tial units and the govern­ment should take a proac­tive ini­tia­tive to de­velop pe­riph­eral lo­ca­tions with re­quired con­nec­tiv­ity and in­fra­struc­ture

What lies ahead for buy­ers: This is per­haps the best time for buy­ers to look around for prop­er­ties, es­pe­cially ready-to-move-in units with favourable com­pleted in­fra­struc­ture. If they are se­ri­ous about mov­ing in them­selves, this is the best time to ne­go­ti­ate on the price of the unit

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