According to a recent report, there are over 1.4 lakh unsold residential properties in Delhi. Due to this higher number of unsold inventories, the developers of the area are not coming up with any new projects. Thus the number of new launches has become shorter. This situation makes Delhi Property hotter than ever.
Though there are many unsold properties, the effect on this is very light on property prices. Property prices are still higher and beyond the reach of any normal man. The prospective buyers may be happy to see that there are many Flats for Sale in Delhi. Though it provides them a chance to bargain and attain property at lower prices, are they still affordable?
The Delhi government and the urban development authority are trying their best to provide affordable homes to the people in the city. However, despite their efforts, the number of affordable Residential Properties in Delhi is very less. Most of the properties are costlier. Though they are not falling into the ultra-luxury category, the prices are higher.
Developers say that the property prices will be higher and will be rising in the years to come. There exists no possibility for the property prices to fall. They point out to the increasing labor charge and other costs. Land prices have also touched sky and still they are rising. They say that there is no place to develop Apartments in Delhi.
If there is sufficient space and there are land parcels available at reasonable or comparatively lower rates, then, then only there is a possibility for the prices of Delhi Property to fall down. As long as there is no more space for any residential development, the prices will stand stable and higher.
Moreover, say the industry experts, the investors will be affected by a fall of property prices. If the prices fall, then no one will sell out any of the properties. Then it will be hard to find any Flats For Sale in Delhi. Now there may be many unsold properties, but nothing will be sold at a lower price for sure.
It means that there is no price correction possible in Delhi. According to the experts, the investors will be the worst to be hit by a fall of property prices. Majority of the investors are having more than one Residential Properties in Delhi. Though they invest in these properties with an aim to exit with returns, they may not sell any of them at lower prices.
Thus it will be hard for anyone to own any Apartments in Delhi at lower prices. So those who are planning to buy property when the prices fall, will never own a property for sure. So the best thing you can do is buy a property as soon as possible before the prices reach another higher level.
Residential Properties in Delhi 