Anuj Puri, Chairman – ANAROCK Property Consultants
This is, without doubt, a very favourable market for homebuyers looking to purchase properties for their own use. One of the obvious reasons is the abundance of options in all categories of housing to pick from.
Also, property rates have reduced considerably across cities. Nevertheless, many fence-sitting buyers still hope for further corrections.
There may still be scope for some marginal rate corrections in certain depressed markets – but as we often say in the industry, timing the market is a game only investors should play. There are no guarantees for when, where and even if corrections will occur.
Certainly, a whole country’s real estate market does not witness synchronized corrections like on the stock market, where everyone is affected simultaneously and to the same extent.
For genuine homebuyers who recognize a good thing when they see it and can call it good enough, it has certainly never been a better time.
The Government has also provided several incentives for first-time homebuyers, especially in the budget homes category, and developers are rolling out year-round attractions in their keenness to close transactions.