Chennai sees increased demand for resale homes, narrowing the price gap between new and resale properties partially driven by location, connectivity, and amenities.
Realty firms appreciate RBI's decision to cut short-term lending rate, expecting reduced costs for both homebuyers and developers. It anticipates a boost in property demand.
JLLM report predicts rising residential property prices in Mumbai and growth in commercial real estate demand until the end of 2010, supported by infrastructure projects.
Real estate prices are unlikely to rise in the next six months, with a significant increase in residential property sales expected, according to Niranjan Hiranandani of Hiranandani Group.
Rising inflation and interest rates are slowing down property demand in India. A further interest rate hike could severely impact the real estate sector, except in Mumbai and Delhi where demand remains strong.
Knight Frank predicts residential property prices may drop further due to sales slowdown and market conditions.