Delhi real estate builders affirm that, the recent slump in real estate might have put a dent in the property market but the demand for Delhi properties remains promising. Rising property prices may have cut down on the actual transactions but there are a lot of interested buyers in the city.
The industry data reveals that, at present there is a huge demand supply mismatch in the price category of below Rs 40 lakhs and below Rs 75 lakhs where demand outstrips supply. There is excess supply in the price band of above Rs 75 lakhs and the demand for the same is low.
For long the builders are launching premium housing projects. As a result the available properties are coming at higher per unit price. There is demand-supply mismatch and also divide between what people want and what they are getting.
With a view to tackle the difficult times in realty sector Delhi Real Estate Developers are changing tracks. Sighting the fact that thee is very little supply in the affordable home category, the developers are now coming up with low cost houses.
Also, as Delhi Development Authority’s plans to release around 6000 flats which will cater to the lower price segment, private developers in the capital are also forced to change their policy. According to Delhi real estate agents, "developers mean business and they have observed a growing demand for low cost housing units, hence are coming up with costumer-conducive schemes.
Renowned realty major Unitech, recently tailored the offerings in its premium property Nirvana Country so that it appeals to masses rather a particular section of society. The independent floors now start from Rs 40 lakhs, which earlier cost upwards of Rs 1.5 crore.
The salary packages haven’t moved as fast as the property prices. However, buying a home or an apartment in Delhi is a dream everyone nurtures. Besides, when there is supply and corresponding demand in the market builders see no way why they don’t modify there products. Moreover, to be in the business they have no other choice.
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