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Can resale property rates go down post demonetisation?- Property Hotline
Posted
November 28, 2016
Views
346
November 28, 2016
346
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3:52Now PlayingExpert: Khurshed Gandhi, Managing Director of Consulting Services at Cushman and Wakefield India.
Question: We have decided to buy a resale property in Mira Road(east) Hub Town Mumbai from an investor for Rs 55 lakh without parking. The approximate built-up area is 700 sq. ft. So wanted to know is it a right time to purchase this property as we have given him the token advance already. Is there any change to reduce the resale property rates? As per the present demonetisation situation can we still negotiate with the builder?
Answer: Quoted value is lower than the market price. Reputed developers charge Rs 8,500 – Rs 9,500 per sq. ft. Investors are trying to exit market quickly so you can expect 5% to 20% reduction in price. Just have the conversation with developer and see you can negotiate.
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