{"id":29468,"date":"2014-08-03T10:00:51","date_gmt":"2014-08-03T04:30:51","guid":{"rendered":"http:\/\/www.bharatestates.com\/blog\/?p=29468"},"modified":"2020-06-15T03:12:27","modified_gmt":"2020-06-14T21:42:27","slug":"29468-property-sales-drop-across-tier-i-cities","status":"publish","type":"post","link":"https:\/\/www.bharatestates.com\/blog\/29468-property-sales-drop-across-tier-i-cities\/","title":{"rendered":"Property Sales Drop Across Tier I Cities"},"content":{"rendered":"

\"mumbai<\/a>According to a recent real estate survey conducted, the property sales have declined across Tier I cities of India. The research showed that sales across Delhi and it neighboring region dropped by 20%, Chennai- 18%, Hyderabad- 13%\u00a0 and Mumbai- 2%. However, Bangalore is an exception.As per the sources, the current real estate market has become inflated and no end-users or investors are showing interest to invest their money in this sector which has eventually resulted in drop in sales.There is also a huge gap between the current property prices and expectations of the investors. Most of them are waiting for the correction in the prices. All these factors have attributed in halt of sales in almost all the Tier I cities. The sources also added that the change is government has not much affected the property market, hence the condition is expected to extend for some more time.Even though the sales have dropped drastically, real estate developers in cities like Mumbai are not ready to bring down the property prices.The report also suggested that in Mumbai, the construction activity is radically increased in affordable and luxury category. Properties which are priced below Rs. 50 lakh are selling like hotcakes. The average property prices in Mumbai <\/a>Metropolitan Region and Greater Mumbai have also increased.The General Secretary of Maharashtra Chamber of Housing Industry (MCHI) said that property sales in Mumbai and its surrounding regions have dropped down due to costly price. However the developers are left with no choice as the land cost is already soaring and the land buyers are charged with different government taxes.\u00a0 The residences can be made affordable only when the taxes are curtailed.\u0437\u0430\u0439\u043c \u043d\u0430 \u043a\u0430\u0440\u0442\u0443 \u0431\u0435\u0437 \u043e\u0442\u043a\u0430\u0437\u043e\u0432 \u043a\u0440\u0443\u0433\u043b\u043e\u0441\u0443\u0442\u043e\u0447\u043d\u043e<\/a>\u0432\u0437\u044f\u0442\u044c \u043a\u0440\u0435\u0434\u0438\u0442 \u043e\u043d\u043b\u0430\u0439\u043d<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"

According to a recent real estate survey conducted, the property sales have declined across Tier I cities of India. The research showed that sales across Delhi and it neighboring region dropped by 20%, Chennai- 18%, Hyderabad- 13%\u00a0 and Mumbai- 2%. However, Bangalore is an exception.As per the sources, the current real estate market has become […]<\/p>\n","protected":false},"author":14,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[3],"tags":[],"class_list":["post-29468","post","type-post","status-publish","format-standard","hentry","category-realty-news"],"blocksy_meta":[],"yoast_head":"\nProperty Sales Drop Across Tier I Cities -<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.bharatestates.com\/blog\/29468-property-sales-drop-across-tier-i-cities\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Property Sales Drop Across Tier I Cities -\" \/>\n<meta property=\"og:description\" content=\"According to a recent real estate survey conducted, the property sales have declined across Tier I cities of India. The research showed that sales across Delhi and it neighboring region dropped by 20%, Chennai- 18%, Hyderabad- 13%\u00a0 and Mumbai- 2%. 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