For some time now, the buzz has been that real estate prices have bottomed out and going forward they will start moving upwards. However, the buzz—created largely by supply-side stake holders such as real estate developers and brokers—has failed to attract homebuyers. Apart from that, demonetisation, implementation of the Real Estate (regulation and development) Act, 2016 (RERA) and Goods and Services Tax (GST) has further hit the market. According to the Crisil report, “Real estate sector in India has been witnessing prolonged sluggishness over the last 6-7 years.” The trend is common across India and is not specific to a particular city or location. According to the Crisil report, “Pressure on residential real estate prices across top 10 cities was clearly visible during H1 2017.

Source: Mint November 07, 2017 11:26 UTC