If National Housing Bank’s property price index is to be believed then it is the right time for those who are seeking to buy a property in Delhi and NCR regions. The real estate sector of Delhi has registered the decline of 1.5% in the first quarter of the year 2014 whereas, in NCR regions, the declination in prices is recorded at the rate of 13.6%.
If reports are to be believed then it is in both I-tier as well as II-tier cities that have witnessed such a sharp decline in both residential as well as commercial property rates.
The main reason for a steep decline in property prices in Delhi and NCR can be advocated the stagnant socio-economic development. High borrowing rates, high inflation rates, weak infrastructure planning are the other reasons for price falls. However, the formation of new, stable and strong government at center promises a bright future for real estate industry of Delhi.
But before the prices again set themselves on high margins, this is the right time for those who want to avail best “value for money” propositions on properties in Delhi.
For all those occupants who were at bay due to burgeoning housing prices, the year 2014 promises to offer a great deal on properties to every potential property seeker. The declaration of new housing norms by RBI and new housing schemes of government surely promises a bright future for real estate industry of Delhi. To know more visit www.propknack.com