Mumbai’s wait-and-watch approach when it comes to buying residential property seems to be working. Property prices in the city are likely to stabilise and may even see a 10-15% drop as developers find it increasingly difficult to sell residential flats at the present ‘unimaginable’ rates. Sales of residential property in Mumbai continue to decline, with November witnessing the lowest number of transactions since June 2009. The trend is most visible in the premium segment, with prices beyond Rs7,500 per sq ft. The number of documents registered in the office of stamp duty registrars has also shown the
Showing posts with label PROPERTIES. Show all posts
Showing posts with label PROPERTIES. Show all posts
The Council of Mortgage Lenders (CML) has today reported mortgage lending remained weak in November.
However, the month is traditionally a quiet one as prospective buyers opt to wait until the New Year to purchase a home.
The number of loans approved for those buying a new home remained flat at 44,000 during the month – a 15% fall on November 2009 levels – when buyers were rushing to beat the end of the stamp duty holiday.
However, the month is traditionally a quiet one as prospective buyers opt to wait until the New Year to purchase a home.
The number of loans approved for those buying a new home remained flat at 44,000 during the month – a 15% fall on November 2009 levels – when buyers were rushing to beat the end of the stamp duty holiday.
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