Whats refraining the buyers from buying their dream homes?
Inspite of the fall registered in the prices of many real estate companies the buyers are still reluctant in buying homes. The prices of property have slumped by 10-15 percent as compared to early last year and the banks have reduced the interest rates by 4 percent.
The people are of the view that though the prices have posted a fall but they are still high enough to keep it out of reach for a normal middle class man. The builders who have decreased the prices of the flats are covering up a bit of the cost by charging more for the parking space. The houses that are even being sold at some affordable prices are not commodious.
On the contrary the best real estate companies like DLF have hiked the prices for their new projects. DLF has raised the price at its Capital Greens project by 25% to Rs 5,677 per sq ft. In Madhapur, Hyderabad, a 2,000 sq ft flat, which costed Rs 30 lakh in 2008, has doubled to Rs 60 lakh.
More : samaylive.com