Residential Property in Delhi: Fallen Prey to Financial Crisis

Real estate in Delhi at Makaan

Indian real estate is going through a really bad phase. As they say, a problem never comes alone, and this is perfectly apt for the realty market that the country is facing. The skyrocketing prices, the financial crisis, and the degradation of rupee against the mighty dollar has left no stone unturned for properties to tread an uneven path. One of the cities that have suffered immensely out of all this is the capital city Delhi. The elephantine rate at which the prices have increased has worked against the buyers' sentiments. The demand, as a result, has gone an all-time low.

The developers who have been putting all their energies in raising the rates of residential property in Delhi, are now facing the consequences of their deeds. With thousands of inventories lying vacant from more than 20 months, they are getting sleepless nights. The bubble that they created to empty the pockets of the buyers is all set to burst anytime. As soon as that happens, the rates shall start plummeting. The price correction has already occurred in South Delhi localities like Greater Kailash and several others. If the bubble continues to deflate, the demand shall rise. It is obvious that the buyers who are reluctant to make a purchase shall go on with their decision.

To win their clients back, the developers and the builders have now resorted to new means. They are approaching them with several cash discount offers and freebies. Sedans, LCDs, microwave ovens, free EMI periods, zero registration duty, and 10% discounts are a few tools that they are employing as their marketing strategies. All these sweetening devices are not going to appease the buyers, who have already under the burden of inflation. We can only hope that prices get corrected and the residential property in Delhi shall again see a rise in demand.

Makaan.com, the Indian real estate website with intelligent search facility, allows searching residential property in Delhi and other cities. Buy, sell, or rent 1, 2, 3 BHK flats, villas, condos, shops, offices, and plots in different price brackets.