When it comes to buying a house in Delhi or NCR, this might be the best time to buy a house, this is what the real estate experts feel, keeping in mind the current market scenario in the Delhi region.
As per the market reports, there are a number of pockets in and around the Delhi region where real estate price points have fallen down by over 20 per cent year-on-year, according to the National Housing Bank’s Residex index, which tracks residential property price points spread across 26 cities in India.
And interestingly, Delhi is the only metro, where real estate price points have fallen down. And hence this is set to create new opportunities for the home buyers and make this a unique opportunity to buy property in the National capital Region.
Why property prices are falling now?
As per the experts close to the real estate industry, property price points have down primarily on account of high inflation, high interest rates being charged by the banks and a sluggish economic growth in the country. In line with these market dynamics, real estate developers have little options but to reduce price points in order to mobilize their real estate inventory levels at a fast rate.
This apart, the overall economic conditions are also improving and formation of a stable government at the center is also a big factor contributing towards this, and additionally there is renewed life in the stock markets today and as a result, this makes a favorable time to buy property in Delhi region today.