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India: Festive season fails to resuscitate sluggish property sales

Posted on 10 December 2012

Contrary to a boom expected in the real estate market, the festive season failed to revive property registrations in the city. Non-affordability continues to drive away home buyers, feel industry experts. According to the data from Director General of Registrations, property sales registrations in October fell 8.5 per cent from September.
Although festivals of Diwali, Eid and Navratri, typically considered auspicious for home buyers, fell in October, house registrations dropped to 4,115 from 4,500 in September. August figures remained stagnant over September as buyers delayed purchase decisions in the hope of new offers and project launches around the festive season………………………………………..Full Article: Source

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