In the current scenario, the real estate market is definitely going through a very tough phase. Already RERA had increased their problems and now it is the demonetization which is adversely affecting the market. Real estate was one of the most important sectors which involved a lot of black money as the investors fund it the ideal way to convert their black money into white. But with ban on the higher currency notes, the market has gone down deeply. Usually the builders were highly dependent on the cash received from the big investors in order to complete their projects but now they are unable to do so. This in turn is affecting their reputation and customers are after them to deliver homes.
Builders now have no sources to complete the construction thereby project being delayed and the customers getting angry. Though the prices of the flats have gone down drastically but the inability to meet the demands is becoming a question of worry. The buyers have already paid the builder but when it comes to making the delivery, there is no answer as still the project is under construction. Both RERA as well as demonetization have turned the market upside down and especially for the builders.
The experts are of the view that this condition is in the favour of the buyers as there are around 90 crore people who are in need of homes and with the new projects and their falling prices it is feasible for them to book a home for themselves. This means that more than half of the population can end up buying a small home for their family thereby keeping away from paying huge rents. Thus it is quite clear that the current market conditions present a big opportunity before the buyers to make best use of their money and purchase their dream home.
The prices have been reduced to about 20-30% which is surely an advantage. Buying a home is not easy as prices have always been high but this time things are changed and you have many ready to possess flats as well. So why waste your time when you have such an amazing chance to book your home and that too at such low prices. Just have a look at the different projects, compare the price and feature to make your choice. You will surely be able to find your sweet home which not only meets your requirements but the budget as well.