Discounts pay, home buyers back in market
Home sales have picked up in select Indian markets over the past couple of months, but analysts warn that prices may not have bottomed out yet as developers are sitting on a huge inventory.
Markets such as Delhi National Capital Region (NCR), including Delhi and surrounding areas such as Gurgaon, Faridabad, Noida and Ghaziabad, have seen a rebound in home demand, with several builders launching projects at a discount to market rates.
They call it disruptive pricing. And it has worked. In one day, DLF, Indias largest real estate company, sold almost double the number of flats in Delhi than all builders together in Mumbai in the March quarter. Check out the numbers. DLF sold 1,356 apartments in Delhi on April 7, when it launched a residential project in West Delhi by offering flats at up to 32% less than market rates.
More : economictimes.indiatimes.com