As there is been a steady fall in demand in Real Estate sector of NCR and the experts say there is an urgent need for correction in property prices. In fact, according to them, a slight drop in property rates could be expected in the next few months. But, all of it really depends on how much focused builders are upon moving out their inventory. The real estate sector has been affected by declining sales due to high prices and low demand. Currently, NCR builders could be having anything between 35% and 45% of apartments in cold storage, with Noida alone accounting for as many as 40,000 unsold units.
Experts say the sale of property in NCR is currently witnessing an all-time low in the last three years and so price correction is the only way out. However, NCR builders say they are loaded with pending dues for leasing charges of existing land. With low demand and construction and input cost on a steady rise, the chances of rate cuts are low. Most of the builders are saying that they would like to wait a bit and watch how market goes and then come to conclusion.