Buying homes to become cheaper
Real estate developers, who had shied away from lowering prices, now realise that they will have to book sales to gain some liquidity.
The slowdown is forcing investors to find a real buyer and cash out. “They need to book losses now as the end user is no longer willing to pay unreasonable rates,” says Pankaj Kapoor, MD of Liases Foras. This means price cuts. And freebies to lure customers.