Good time to buy a home

It could be good time for those wanting to buy a home as developers have started reducing prices to shore up sagging sales. The real estate sector has grown 30- 35 percent during the last half decade, reflecting the fast increasing demand for office, commercial and industrial space. Even the demand for bigger homes, now considered within the range of prospering working classes, run amazingly.
But the economic juggernaut began slowing earlier this year because of inflation and a severe liquidity crunch, fallout from the US sub-prime crisis. Now economic activity may shrink as part of a global slowdown.
India’s growth estimates of 9% at the beginning of current year have been revised to well below 7 percent, and the effect is directly visible in the realty sector.
According to the Associated Chambers of Commerce and Industry (Assocham), the real estate sector is estimated to be worth at least fifteen billion dollar in which FDI is four billion dollar.

3 Comments

  1. joshi
    Posted November 15, 2008 at 12:29 am | Permalink

    Hi There

    What would you suggest, is this the right tome buy a home in Hyderabad.

    Thanking You

    Joshi Ennnam

  2. Kumar
    Posted November 20, 2008 at 11:56 pm | Permalink

    Indian real estate is still grossly over valued – as there is a huge disconnect between the average salary of Indians and the average price of the houses. There is a lot more to go down. Do not believe the people who give interviews in the TV or write on the newspaper and say it is a great time buy Indian real estate, as these people are either building developers are investors in real estate. Just be patient as time will surely bring down the housing prices to the earth.

  3. Dharmesh
    Posted December 25, 2008 at 4:51 pm | Permalink

    hi
    is this is a right time to buy a home in Ahmedabad,Gujarat

    Thank You
    Dharmesh

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