The economic slowdown has combined with the real estate market’s inevitable efforts to assume rationality. For Indian residential space developers, the dream run is over – but for the sector’s end-users, it is a time of opportunity.
Properties that would forever have stayed out of the reach of India’s less privileged middle-class denizens are about to be put on the table.
Yes, it is a buyer’s market now. Residential rates are crashing across the country. Overheated pockets in our metros and the more prominent Tier-II cities now taste humble pie. The residential property market in India will rise again – albeit at a more realistic rate.
While certain areas in many cities retain their mid-to-long term potential, other areas in these cities are headed for correction, these locations will hold their own and even grow.
Click here to read Jones Lang LaSalle Meghraj report on the areas in key Indian metros where one could look to invest in the current scenario.