Recently it has been observed that the prices of real estate in South Delhi have dropped from 20%-35% in the last one year.
Due to this the developers and investors are offering are huge discounts on sale of secondary houses in South Delhi.
If we look six months back then discounts in real estate in South Delhi was being offered only by developers on new homes in South Delhi region.
But with the oversupply of them currently, even owners of houses are facing several issues in selling houses in South Delhi. All this is a result of slowing down of economy in recent times. The buyers are negotiating tremendously with sellers now and looking for the cheapest opportunity in terms of secondary sale of houses.
The areas that are worst hit by this crisis are Defence Colony & Vasant Vihar, Greater Kailash, New Friends Colony & Gulmohar Park. Sellers in these areas who were asking for 9-10 crores for their houses earlier are now ready to take the deal even at 6-7 crores. So if you are planning to buy any apartment or independent house in South Delhi at present, then we would like to advise that this is the best time to invest in real estate in South Delhi. As who knows, the property rates might again rise anytime soon.
Due to this the developers and investors are offering are huge discounts on sale of secondary houses in South Delhi.
If we look six months back then discounts in real estate in South Delhi was being offered only by developers on new homes in South Delhi region.
But with the oversupply of them currently, even owners of houses are facing several issues in selling houses in South Delhi. All this is a result of slowing down of economy in recent times. The buyers are negotiating tremendously with sellers now and looking for the cheapest opportunity in terms of secondary sale of houses.
The areas that are worst hit by this crisis are Defence Colony & Vasant Vihar, Greater Kailash, New Friends Colony & Gulmohar Park. Sellers in these areas who were asking for 9-10 crores for their houses earlier are now ready to take the deal even at 6-7 crores. So if you are planning to buy any apartment or independent house in South Delhi at present, then we would like to advise that this is the best time to invest in real estate in South Delhi. As who knows, the property rates might again rise anytime soon.
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