Photo: MintNew Delhi: Residential property prices in the National Capital Region fell in the six months to 30 June, the first time in three years, property consultant Knight Frank LLP said in a report on Monday. Property prices in the Delhi-NCR market, which is also the most valuable property market in India, fell as cash-strapped developers grapple with piling inventories and a trust deficit among customers. On a pan India basis, Bengaluru residential market grew as sales rose 18% and weighted average prices inched up by 3%. Piling inventories and trust deficit among customers have triggered decline in Delhi-NCR-property prices for the first time in three years, says Knight Frank reportNew property projects in the NCR region have dropped by a staggering 41% as developers focus on finishing existing units. The new launches in NCR region also dropped by a staggering 41% as all the major developers focus on finishing existing projects, the report said.

Source: Mint July 04, 2016 09:56 UTC