Rising interest rates have pulled down the property prices in the National Capital Region (NCR) of Gurgaon, Noida, Greater Noida, Indirapuram and Charmswood Village by 10% to 20% in the past 6 months.

Despite the reduced prices in the NCR, there are not many buyers. But this hasn’t forced sellers and builders into slashing the price further.

In many cases, the builders’ price in the primary market is higher than that of secondary market. The worst case is that of the plotted colonies, which have witnessed a sharper decline in their value.

Experts attribute the fall in property prices to the rising interest rates which have pushed up the cost of investment.

Those who have already invested in the residential properties are holding their properties and are not willing to sell them off because they are not getting the prices which they have set for the property. So, how long can they continue to do so? The day they would start selling, there will be greater fall in the property price in Gurgaon.
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  • Unrealistic it is!

    Yes its true property prices in NCR have reached unrealistic levels, and developers too accept this in whispers.

    We've not seen an inhabitable flat that is below 30-35 lakh in Gurgaon/ or New Delhi and that too is a middle-size one with carpet area around 1000 sq. ft..Similarly prices of condominiums and penthouses also are running into several crores !!!
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