Chances are less that propery rates will come down to resonable rate. Rates will be stable for some time but again will rise. so if you can buy home now then you should as in future prive will increase for sure.
Hey well me as a property consultant have been tracking the Indian Real Estate market for past 12 years there have been many ups and downs in the Indian Real Estate market in both residential as well as in commercial section in the past 4 years...
From metros the spiral effect of rise in prices have shifted to small cities in India...Prices were high for a long period of time which was followed by the correction in the market .......now the question to be answered or to be found out is whether this price fall going to continue or there will be an upsurge.......as per me the prices will shoot up...investors will again inflate the market again artificially for their own benefit.....so as per me its the right time to buy a house.......
if u have d required money to invest and u have a need to own a house then dont be a fence sitter join the band wagon, looking at past 20 years there have been a few dips but overall the property market has gone upwards all over d world not only in india, there is no method to produce land but the population is increasing simply put together if demand is more and supply is less, prices are going to move north, well we dont see any way the population of this country going down, so it is assumed that there will always be demand, or think rather differantly if some one 20 years back had asked d same question?
hope this helps
The most important question you should ask yourself is the motivation to BUY real estate...
If you are buying it as your First Home or upgrading to a Bigger Home or downsizing, There is no Rite or Wrong time to BUY. Everytime is the rite time and timing the market to buy your home is not a sensible idea.
If you are looking to Invest it in a long term horizon ( upward of 5 years ), its still the rite time to buy. But run a due diligence in getting the best deal in terms of prices and also the clear title stuff.
If you are looking from the specualtive point of view, i would advice you to hold on and wait for some cooling in prices which would be location and project specific and may not cover an entire market. Also look for investors who have been early bird buyers and are cashing in at prices lower than the prevailing rates.
Well there are many factors which affect the Indian real estate sector. These factors lead to various ups and downs in the sector.As per me the Indian real estate sector is in its upswing and is expected to grow more.
Prices of residential property in India would only begin to fall in a fast flourishing economy with an increase in supply.Property prices will take a slip only if pushed by increased supply and not mere monetary policies.The Reserve Bank of India (RBI) raised interest rates five times since March 2006. The authority has also lifted banks’ reserve requirements to curb rising inflation and credit growth.This created a need for commercial banks to raise lending rates including those on home loans by more than 200 basis points.
Another factor affecting Indian property market is increasing interest rate on home loans However, growth in home loans may slow to 17-20 per cent in the current fiscal, as per the data showcased by the Associated Chambers of Commerce and Industry.But nothing is certain.There are various more factors affecting the real estate sector. Keeping them in mind one can decide whether to invest or not.