A sharp decline in property price appreciation in top Indian cities has pushed investors out of the housing market in India, which has turned into an end users? paradise, thanks to stagnating prices and, in some cases, deeply discounted distress sales.
?A sign of any residential market?s increasing maturity is evidenced by gentler price appreciation ?a process which has been very much in evidence in the country?s financial capital. Fourth quarter price performance in Delhi-NCR, Bengaluru and Chennai is also representation of what happened through the year,? said Ramesh Nair, Chief Operating Officer, Business and International Director at JLL India.
Back in Mumbai, at sub-market level, south-central Mumbai and the eastern suburbs saw the maximum appreciation at 4.3 per cent and 4 per cent respectively, followed by north Mumbai and western suburbs at 3.9 per cent and 3.5 per cent, respectively. Outside the city and suburbs, Thane saw a 3 per cent appreciation in capital values, while the figure for Navi Mumbai stood at 6 per cent. However, Navi Mumbai also has a lot of unsold inventory in many of its pockets and only few precincts are witnessing good demand.
Source: The New Indian Express