New Delhi/ Mumbai: The correction in real estate prices that buyer had been waiting for, may well be on its way in most of the major Indian cities. In the last few months more and more builders and real estate developers are leaning towards bringing down property prices to boost sales.According to real estate researchers this is not an unexpected phenomenon as in most of the main Indian cities property prices are placed much higher than what they should be. Builders are slowly coming to realize that properties will only sale when the price is right and not unreasonably high.Real estate developers had been for long trying to generate interest among the buyer by offering various sops such as free family vacations, free home appliances, pre-EMIs etc. But these have failed to attract buyers as they have come to realize that in reality they are saving little money by falling for these schemes. Now they are going for more assured money saving options such as hefty discounts on house prices.In January, Emaar MGF launched its Gurgaon Greens in Gurgaon and sold 250 units in only a week. The secret behind such a success is that Emaar MGF is that the developers priced the properties at Rs 6, 000 per sq ft instead of Rs 7,000 per sq ft which is the prevalent rate in that particular area. Similarly, Mumbai based builders Lodha Group sold 750 of its luxury houses priced between Rs 3.5 to Rs 6.5 crore just because Lodha was offering a discount of 18%. The entire project only required 10 days to be totally sold out.Demand for housing has not gone down but since most people who want to buy houses did not have the financial strength to afford the highly expensive houses available in the urban regions, buying almost stopped. As the buying stopped, the real estate market entered into a period of slow movement. The number of unsold houses began to increase with each quarter and builders grew desperate. By the end of the December quarter 5.5 lakh homes remained unsold and at the slow absorption rate it was estimated that a total of 29 months would be required to sale all the houses. Many builders are now tending to build houses of a smaller size that will meet requirements as well as remain within the range of affordability.займ на карту без отказов круглосуточновзять кредит онлайн