Mumbai, September 10: Real estate prices are unlikely to go up in the next six-months and the industry may witness huge volumes of sales of residential properties, a top industry player said.
“There is a huge improvement in real estate and prices will not increase, at least for the next six months,” Hiranandani Group of Companies’ Managing Director, Niranjan Hiranandani, told reporters on the sidelines of a conference here today.
The industry may see a huge volume growth in the next six-months period, Hiranandani said.
“In the last 60-days, we have seen sales of almost 8,000 apartments in the Mumbai region alone, spread in all sectors of the real estate market, but specially focused on the lower segment. But we do see across-the-board increase in demand,” he said.
Demand for residential projects in a number of cities is picking up on account of lower home loan rates, property price-cuts by developers and job market recovery, market players said.
—Agencies