Realtors feel heat on pre-launch sale
Sunday, May 6th, 2007Rising borrowing costs have been pinching real estate developers over the past few months.
Now, higher home loan rates and the prospect of a market correction are making it difficult for them to pre-sell their residential projects, a standard practice till recently.
Almost 60 per cent of home buyers are staying away from pre-launches. They want to wait and buy an apartment once they see the apartment building actually being constructed, said Sanjay Chandra, managing director, Unitech Ltd, which is building residential projects of 45 million sq ft, adding that many did not mind paying a premium for their caution.
More : business-standard.com

