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Is there a realty glut in NCR, Mumbai?

Posted on 16 May 2011

You could call it a buyer’s aversion after a year that saw a price surge. Real estate industry experts say that mid-tier and high-end apartments are finding few takers, suggesting a pile-up or peaking of prices that could lead to a correction in the coming months. Industry trackers say only apartments in the Rs 2,000 to 5,000 per square foot range are witnessing demand.
“Anything priced above is seeing fewer transactions,” said Gagan Banga, CEO of financial services firm Indiabulls, which also has a real estate arm, adding that the lower range flats were also growing slower this year……………………………………….Full Article: Source

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