How many of you have considered buying a house during slump? Not many. I would love to hit the deal but there is liquidity crunch and loans are not easily available. The rates of houses/apartments have not come down drastically as the media claims. It is just that at some places that the correction is happening and honestly I don’t see much of a difference from a common man’s view.
Before six months the rate of a 3-bedroom apartment near my home was close to Rs. 35 Lakh (excluding registration) and now it has come down to Rs. 30 Lakh. Still I think it is not a fair deal. Since there is heavy crunch in the market the builders are facing the music and they are not able to sustain themselves and if they don’t hold on to the prices then there are chances that they might be in trouble. Continue reading