This Dipawali, its becoming buyers market


murari sir 2By Accommodation Times News Service

There is a property exhibition galore on this Dipawali. There is huge inventory of unsold flats in all most all the markets. Mumbai , Navi Mumbai, Hyderabad , Singapore, London, Dubai, Sarjah , Muscut etc, all these places are there property exhibitions from October 2013 till December 2013. Maharashtra Chamber of Housing Industry (MCHI), DNA, Times Property, BANMS, DHFL, Sumansa, Master Group are having these exhibitions in multiple locations offering Indian properties through these exhibitions. In all these exhibitions builders are offering various options and concessions to property buyers. The property market is seeing downward trend and this phase is likely to continue for the coming year. This is the time to purchase your dream home. Builders are offering gold coins, and a lot of other free gifts to lure the flat buyers. Stamp duty, and registration charges are paid by most of the builders. Interest free EMIs are offered in under construction projects. Because of the huge unsold inventory builders are devising ways and means to lure the buyers to purchase their flats. The other reason is the mounting interest rates. Builders have taken huge loans from the banks and other financial institutions in the hope to sell their projects at handsome prices. But the interest burden is eating away their profits and still the flats are not sold. So the attitude of builders is changing rapidly and they want to sale their properties fast to get rid of interest burden sooner than later. The resistance of the flats buyers to wait to buy property is showing results and the market is seeing stagnation of property rates. At the same time the cost of the building construction materials is rising continuously making the finished construction of the buildings costlier. Than there is VAT, Service tax, excise and duties on constructions sector is making it costlier. The present scenario is in favour of actual users rather than investors or speculators. So this is the time to buy your home.

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