Real estate projects which were launched nationally in year 2007-2008 scheduled to be delivered in year 2011 are not running in time for completion, the percentage of these residential projects is 70 per cent. A further delay of 18 to 24 can be anticipated due to the liquidity crunch faced by the real estate developers in the industry. It is expected that this trend will continue there is ease in liquidity and banks in India again start real estate projects lending. Home buyers are aware of these delays hence they have started preferring projects that are already built and ready to occupy against the newly launched ones.
The rate of delay is low in sold out projects and high in segments receiving fewer bookings. Due to this there is less pressure on developers. There will be delay in execution of project if it has been launched in luxury segment and has got only 30 to 40 per cent booking. Buyers who have already invested in projects that are being delayed the scope of correction is very little. For buyers the move will be to pressurise the developers by forming a group. Many such groups can be seen on Google, Yahoo etc. who have been successful in pressuring developers.
The rate of delay is low in sold out projects and high in segments receiving fewer bookings. Due to this there is less pressure on developers. There will be delay in execution of project if it has been launched in luxury segment and has got only 30 to 40 per cent booking. Buyers who have already invested in projects that are being delayed the scope of correction is very little. For buyers the move will be to pressurise the developers by forming a group. Many such groups can be seen on Google, Yahoo etc. who have been successful in pressuring developers.
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