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Costlier homes in city

Friday, April 07, 2017

Despite demonetisation to bring out black money, real estate rates are not coming down and  promoters are simply not ready to reduce rates.  The ready reckoner rates are beyond the capacity of the common man.  Union budget does not give the much needed reprieve for the middle class in order to buy affordable houses as well.  In all only very rich people can think of buying a home and the present situation will prevail for some more time. Government measures to ease out the situation did not yield any result as the stalemate continues in real estate prices. Mumbai Metro did not benefit much and the builders are waiting for bee line of buyers during festival days to make up their losses.  The very purpose of promoting affordable housing schme is defeated due to the price war and the buyer is put to test despite giving free stamp duty charges and also by giving gold coins on booking day.  It is not a buyer's market for sure.

— Abhishek Rama, Bhandup

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