Real Estate Down – Property on Discount

A great news is here regarding the property. A news said that globe is in crisis and it is real fact. All the world is now in economic crisis and slowdown the economy has made more thing available on lower price. In the Real Estate market you can get more discount from Diwali.

According to the Hindustan Times,

“To counter the downturn, builders are now in the process of offering discounts to lure prospective buyers. Orbit Corporation Limited has announced a discount of 15 per cent at a residential project in Lower Parel and others are expected to follow suit.

There still remain builders who are holding on to their prices in the hope that Diwali, considered an auspicious time by buyers to purchase flats, will revive the sagging market. “We just hope that Diwali brings us some relief as we have suffered enough in the last four months,” said Anand Gupta, secretary, Builders Association of India. “If things do not improve we will be seeing lot of distress sales and massive price cuts.”

Rajesh Jain, spokesperson of Property Redevelopers Association, said builders were adopting a wait-and-watch attitude.”

You can justify now that how global economy has affected the real estate market. Before it real estate market was on boom and all the property deal was very hot. In the Indian aspect DLF head is the 3rd richest person of the India. Now, you can imagine property and real estate where is going!