| India’s real estate market is likely to continue to remain sluggish in the quarter ending 30 June and developers may have to drop prices to revive demand for offices and homes, according to industry reports and analysts.
The real estate sector remained weak in the year ended 31 March as investors, buyers and tenants kept away from a market that is bearing the brunt of delays in approvals, rising construction costs and high interest rates. New investments in the real estate sector across India slumped by about 55% in the March quarter to Rs.42,000 crore from Rs.92,600 crore in the corresponding period last year, according to a 6 May report by industry lobby group, Associated Chambers of Commerce and Industry of India or Assocham........................................Full Article: Source |