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Saturday, December 20, 2014

Flourishing Property Blog - upload your write up absolutely Free of charge !

If you are a Builder, Developer, Realtor, Property dealer, Real estate agent, as well any Association for any or all of the above, from anywhere in the world, just fell free to mail us a write up on your activities, any new developments, any new projects with pics, vids etc. for uploading on the Flourishing Property Blog, absolutely Free of charge.

Wednesday, December 10, 2014

Look for deals when buying realty

This is a good time to purchase a property for personal use, but not if you are buying it as an investment.
A wait-and-watch policy is advocated in the latter case as at current levels, real estate prices are quite high across most cities. "The prices are high in most cities and it is better to wait, except for Hyderabad, where we expect a good growth and a potential for appreciation," advises Ashutosh Limaye, head - research at Jones Lang LaSalle, India.
At the same time, those waiting for a major correction in the real estate markets may be disappointed. "We do not foresee a correction. Rather the prices will see a modest appreciation," adds Limaye. Financial advisors believe that property should be purchased only if you plan to stay in that property.
with thanks : DNA : LINK : for detailed news.

Tax defaulters in east Delhi to face 'music' tomorrow

Tax defaulters in east Delhi will literally face the music tomorrow as the EDMC has planned to send drum beaters outside the houses of such offenders to make them pay their dues. 

"EDMC will initiate drum-beating against property tax defaulters in Shahdara (South) Zone tomorrow. The corporation has decided to take such an action in order to liquidate the property tax arrears and to make them pay their property tax dues," a senior official of the EDMC said. 

The starting point of the drum beating process has been set at H-17-23, Laxmi Nagar at 11:30 am. It will take place at 19 locations in the zone. 

"The Assessment & Collection Department of EDMC is initiating the drum beating process as it has been observed that huge amount is outstanding against many properties falling within the jurisdiction of Shahdara (South) Zone, whose owners did not pay property tax even after issuing of statutory notices," he said. 

These property owners have been given opportunities time and again to clear their property tax but they failed to do so. Hence, the department has no other option but to resort to the other means of recovery of outstanding dues, an EDMC statement said.

with thanks : Times of India : LINK : for detailed news.

Tuesday, December 2, 2014

With better connectivity, Faridabad real estate market set to boom

Faridabad has suffered on account of poor infrastructure and bad connectivity, and has failed to register the kind of growth witnessed in neighbouring Gurgaon and Noida. File Photo: Shiv Kumar Pushpakar

Despite its proximity to Delhi, Gurgaon, and Noida, and with fairly good connectivity with its neighbouring cities by road and rail routes, the property market in Faridabad has not kept pace with the real estate market in other National Capital Region (NCR) cities.

In spite of all its potential to become a ‘model city’, Faridabad has suffered on account of poor infrastructure and bad connectivity, and has failed to register the kind of growth witnessed in neighbouring Gurgaon and Noida.

“The biggest issue with Faridabad has been the poor connectivity. The information technology industry chose Gurgaon over Faridabad because of its better connectivity with Delhi and proximity to airport. Since young people with high disposable income work in IT industry, it had a ripple effect on the real estate market and led to mushrooming of shopping malls and spurred the demand for housing. Faridabad, on the other hand, has mostly manufacturing industry employing people with less disposable income,” said SPR Buildtech Ltd director Nalin Saluja.

However, the real estate market in Faridabad is now booming with improved infrastructure like Gurgaon-Faridabad expressway, six-lane Mathura Road, expansion of metro rail, and laying of foundation stone for the Faridabad-Noida-Gaziabad expressway.

with thanks : The Hindu : LINK : for detailed news.

Living in Mumbai? See How Many Years It Would Take to Buy a Property

Living in Mumbai? See How Many Years It Would Take to Buy a Property
Mumbai is the costliest city in the country to buy a property. Now, a report has quantified how tough it is to buy a home in the country's financial capital.
According to a report by personal finance portal Arthyantra, property prices in Mumbai have gone up by as much as 50 per cent over the last three years. That means it will take a mid-income professional (with a salary of Rs 8 lakh) 13 years to accumulate enough money for paying the down payment for buying a property in Mumbai, the report says.
Down payment is the margin money for a loan and for home loans it varies from 15-20 per cent of the property price. To calculate the time required to accumulate the down payment, Arthayantra assumed a savings rate of 25 per cent of income and salary hike of 10 per cent per year.
According to the report, Mumbai remains the city with the highest residential real estate prices followed by Delhi. It estimates average property price of 1000 sq feet in Mumbai to be about Rs 1.6 crore, while in Delhi to be Rs. 1.1 crore.

with thanks : NDTV : LINK : for detailed news.

Friday, November 21, 2014

It's official: With no big deals, property market's losing life

If state property registration department figures are any indication, Mumbai's real-estate market is in dire straits and it could collapse anytime. In October 2014, the government could earn only Rs 15.19 crore from 16,700 properties that were registered.
In fact, figures suggest that the market has been consistently sliding since January 2014.
Why even October saw low sales?
What are the reasons for the lull ?
Is inventory piling up?
Who is to be blamed?
Where's the market headed?
What are developers saying?
What is their suggestion?
Is there a permanent solution?
Will Harbour link help?
Read the detailed story at : DNAINDIA : LINK

Why does everybody love to hate the Indian real estate sector?

Why does everybody love to hate the Indian real estate sector?

New Delhi: Over the years, Indian real estate has been a seemingly limitless source of negative hype. Scams, controversies, rumblings about delayed projects, agitations by consumers and debates about the over/under-regulation of the real estate sector have all provided ready cannon fodder for countless publications, internet forums and assorted activists. In fact, the real estate sector has drawn more media flak and outrage than any other industry in India.
This tempts the question – why is Indian real estate a sector that everyone loves to hate? It is a valid question, and one that many corporate heads, industrialists and big-ticket investors have asked me during my business travels abroad. The question – or variants of it - is sometimes asked in an amused and otherwise unconcerned manner, but more often with real interest tinged with worry. After all, almost everyone with a healthy investor instinct has or intends to have a piece of the massive Indian growth story, and any kind of participation in it invariably involves real estate.
There is no easy answer to this question, which is in any case a rather unfair one to begin with. Nevertheless, the generalized negativity about the Indian real estate sector that has been created in the public mind is a reality.

Must read : with thanks : India TV : LINK for the complete story.

Space available for Food chain franchise or rent !

Space is available in Krishna nagar on main road, in East Delhi, for Franchise of any reputed Food chain. It can be given on rent also to Banks. For any more details, please feel free to contact Flourishing Property at : 

Commercial property for showroom for lease !

commercial property for showroom purposes on Lease as follows : Address: M block Market, G. K.-1, For rent only :  1st Floor, Covered Area: 600 Sq. Ft., 11KWA power load, Independent Toilet/Pantry, Frontage 24ft. With full window & signage on main road. 

Premises for Office purposes !

premises for office purposes on lease  as follows : Address:- Defence Colony, Main Bhisham Pitamah Marg, New Delhi-110024, For rent only : Lower Ground Floor: Covered area :  1300 Sq. ft., Approved commercial building, Independent entry from front Main road, 13KWA  independent Power load, Independent Toilet/Pantry/water connection.

Builders Associations - Worldwide - can add a free write up on Flourishing Property Blog !

Builders Associations - Worldwide -  can add a free write up on Flourishing Property Blog. Just mail us your detailed write up with details of   members, branches etc. with pics for uploading on the Flourishing Property Blog.

Buy / Sell : Kothi, Bungalow, Plot, Farm house on Flourishing Property Blog !

Now you can add your absolutely Free listings on the Flourishing Property Blog to Buy / Sell : Kothi, Bungalow, Plot, Farm house, etc. Please feel free to mail us complete details alongwith your contact details.

Builders & Developers : Add your new projects on the Flourishing Property Blog !

Builders & Developers can add their Free listing cum write up of their New Projects on the Flourishing Property Blog. Just mail us a detailed write up with pics for uploading on the Blog. It's absolutely Free.

Property Dealers : Add your Free Listing cum write up on Flourishing Property Blog !

Property dealers, Real estate agents, Realtors can add their Free listing cum write up on the Flourishing Property Blog. Just mail us a detailed write up with pics for uploading on the Blog. It's absolutely Free.

Thursday, November 6, 2014

Flourishing Property can promote your new projects !

Flourishing Property is a Web Portal as well a Web Blog. The Flourishing Property web portal has achieved a Moz rank of 5.24 whereas, Flourishing Property Blog has achieved a Moz rank of 5.11.

We can promote your new projects by uploading your write ups, pics, vids, catalogues, brouchures on the Blog. A link exchange can also be done with our Property web portal & web blog. 

Please feel free to mail us your write ups.


B S Vohra

Thursday, October 9, 2014

Raj Homes Diwali Dhamaka !

Raj Homes is all about Diwali Dhamaka ! They have offered a lucrative chance to invest in a new home this auspicious season for an assured rate of return with their Buy Back Guarantee! They say, " Buy a home with us this Diwali and we’ll buy it back in three years if you’d like to move !".

The scheme is said to be currently available on their Raj Classic Apartments. Raj Classic Apartments is a luxurious 15 Floor apartment building with 3BHKs and 4BHKs in Bhopal.  

But before investing your money with any of the builders, you must check all the documents, must read thoroughly any agreement, get all kind of clarifications & than think to go for it or not.

Appughar Sector 29 Gurgaon

The company has been allotted 42 acres of land in heart of Gurgaon to set up a mixed use entertainment center. Appughar – Gurgaon to be built on 58 acres is being designed to offer the various entertainment and recreation options in the form of an Amusement Park, Water Park, Retail, FEC and a Sports club. It will consist of a Water Park, Family Entertainment Center, retail, commercial, sports activities and an Iconic feature of international standard. Since it is a Multi location format, a suitable connectivity between the two locations will be provided in the form of Shuttle Bus Services / Mono Rail.

Deal With The Basic Infrastructure Developments To Create A Change In Real Estate Values

Deal With The Basic Infrastructure Developments To Create A Change In Real Estate Values
The first and foremost options related with the zone of real estate investment always revolve around the infrastructure developments. Investors along with the real estate developers try to focus their attention towards those areas, which are closely associated with proper infrastructure developments. It is an inevitable truth that the real estate investment is a huge amount and can be defined as a proper result just after the metal investment policies. Thus, you might want to opt for the best option available among so many options. Therefore, proper research is a must and this needs a little bit of time investment, as well.

The first development of proper communication
Among so many options available related with the infrastructure developments, you might try and deal with the road communication zone, for the first option. The roads are now well developed along with proper highway developments, mostly in the metropolitan areas. For the betterment of the clients, Indian cities are dealing with real estate developments near airport ad railway connectivity. You can also opt for those places, located near the stretch of the national highways. However, you can also try and deal with the options, related with wide and clean roads, which are well surrounded with lush greenery at both the sides.

Educational developments also form a major point
Apart from the road segment, you can also try and deal with the infrastructure developments related with educational areas. The Universities and college developments are shaking hands with some reliable coaching centers, which are some of the special references for you to deal with. However, you can try and opt for those places, where infrastructure developments are related with the growth of the IT hubs. There are different fortune companies and IT and ITeS companies, which are gaining worldwide popularity nowadays. Moreover, you can also try and deal with the IT universities, where the aspiring engineers are coming for study. They will opt for the nearby located hostels and PGs.

Hospitals and shopping areas
Other than the points mentioned above, the next areas are related with the zones of shopping areas and the related developments in the zone of hospitals. The places, nearly located to government and private hospitals, will always increase the price of the real estate values. The amount will always revolve around 2 BHK flats and 3 BHK villas. You can try and deal with those areas, which are closely connected with shopping zones. Shopping zones revolve around both malls and also grocery zones. Therefore, people do not have to travel a lot in order to get through the grocery zones for their daily basic needs.

Legal helping hands available
There are various civic problems, which you might have to take help of, when the main area of concern is related with real estate developments. Thus, deal with the places, which are located near any legal jurisdictions. However, infrastructure developments can also mark a difference on the flats and apartments in India, which are available near hand. The social developments along with surrounding environment can help in making a difference in the real estate values. 

Barsha Mishra

Wednesday, October 8, 2014

Builders & Developers : upload descriptive write ups of new projects on Flourishing Property !

Flourishing Property is a Web Portal related to the Building & Construction industry. In a very short span it has gained good ground on the Internet & the number of visitors is rapidly increasing.

Builders & Developers may feel free to mail us descriptive write up's about their new projects for uploading on the Flourishing Property Blog.

Tuesday, September 30, 2014

Flourishing Property in Delhi

Every one wants a home in the National Capital - Delhi. But probably they are not aware that it has become the most polluted city in the world. Our RTIs gave details of pollution levels from 16 locations of Delhi & shockingly, none was with in the prescribed levels. 

We thought of checking the Lungs of people of Anand vihar & nearby areas in Delhi. We made arrangement with CIPLA LTD for the free camps. We could check 121 persons in a day and the result was again shocking. Almost 25% of the persons checked by us had the minor, mild or severe lung problems.

We have now approached our Union Health Minister Dr Harshvardhan as well Hon'ble LG, to take the matter to the next level so that the residents of Delhi could Flourish in their Flourishing Property & not suffocate due to respiratory problems as an impact of the Pollution.

Please go through the news cutting below, covered by Hindustan Times with Data collected by us through RTIs.


B S Vohra

Thursday, September 25, 2014

Prime Ministers Message


with thanks : HT


With thanks : HT


No data provided for 2013. SO2 = 5 (less than 50ug/m3), NO2 = 87 (more than double of 40 ug/m3), PM10 = 186 (more than 3 times of 60 ug/m3), PM 2.5 = NA (prescribed 40ug/m3).

TOWN HALL – 2012 : CPCB :
No data provided for 2013. SO2 = 7 (less than 50ug/m3, NO2 = 80 (double of 40 ug/m3), PM10 = 256 (more than 4 times of 60 ug/m3), PM 2.5 = NA (prescribed 40ug/m3).

Continued in Part 12

with thanks :


ITO – 2013 : CPCB :
SO2 = 4 (less than 50ug/m3), NO2 = 69 (more than 40 ug/m3), PM10 = 226 (nearing 4 times of 60 ug/m3), PM 2.5 = 173 (more than 4 times of 40ug/m3).

No data provided for 2013. SO2 = 10 (less than 50ug/m3), NO2 = 78 (nearing double of 40 ug/m3), PM10 = 268 (more than 4 times of 60 ug/m3), PM 2.5 = NA (prescribed 40ug/m3).

Continued in Part 11

with thanks :


SO2 = 4 (less than 50ug/m3), NO2 = 61 (more than 40 ug/m3), PM10 = 265 (more than 4 times of 60 ug/m3), PM 2.5 = 88 (more than double of 40ug/m3).

SHAHDARA – 2013 : CPCB :
SO2 = 4 (less than 50ug/m3), NO2 = 62 (more than 40 ug/m3), PM10 = 246 (more than 4 times of 60 ug/m3), PM 2.5 = 86 (more than double of 40ug/m3).

continued in Part 10

with thanks :


SO2 = 4 (less than 50ug/m3), NO2 = 46 (more than 40 ug/m3), PM10 = 202 (more than 3 times of 60 ug/m3), PM 2.5 = 57 (more than 40ug/m3).

SO2 = 4 (less than 50ug/m3), NO2 = 42 (more than 40 ug/m3), PM10 = 165 (nearing 3 times of 60 ug/m3), PM 2.5 = 66 (more than 40ug/m3).

Continued in Part 9

with thanks :


SO2 = 4 (less than 50ug/m3), NO2 = 45 (more than 40 ug/m3), PM10 = 206 (more than 3 times of 60 ug/m3), PM 2.5 = 63 (more than 40ug/m3).

SIRIFORT – 2013 : CPCB :
SO2 = 4 (less than 50ug/m3), NO2 = 43 (more than 40 ug/m3), PM10 = 181 (more than 3 times of 60 ug/m3), PM 2.5 = 78 (Almost Double than 40ug/m3).

continued in Part 8

with thanks :


SO2 = 17.2 (less than 50ug/m3), NO2 = 53.68 (more than 40 ug/m3), PM10 = 220 (more than 3 times of 60 ug/m3), PM 2.5 = 128 (more than 3 times 40ug/m3), Ozone = 90.19 ( nearing 100 ) , CO = 1.92 ( nearing 02 ).

SO2 = 24.1 (less than 50ug/m3), NO2 = 87.53 (more than double of 40 ug/m3), PM10 = 555 (more than 9 times of 60 ug/m3), PM 2.5 = 175 (more than 4 times 40ug/m3), Ozone = 23.68  ( 100 ), CO = 2.10 ( more than 02 ? ).

continued in Part 7


SO2 = 17.9 (less than 50ug/m3), NO2 = 87.26 (more than double of 40 ug/m3), PM10 = 275 (more than 4 times of 60 ug/m3), PM 2.5 = 148 (more than 3 times of 40ug/m3), Ozone = 48.81 ( 100 ), CO = 2.68 ( more than 02 ? )

SO2 = 21.1 (less than 50ug/m3), NO2 = 91.69 (more than double of 40 ug/m3), PM10 = 258 (more than 4 times of 60 ug/m3), PM 2.5 = 121 (more than 3 times of 40ug/m3), Ozone = 100.18 (more than 100 ), CO = 3.06 (more than 02 ? ).

continued in Part 6


R K PURAM - 2013 : DPCC :
SO2 = 18.1 (less than 50ug/m3), NO2 = 62.23 (more than 40 ug/m3), PM10 = 305 (more than 5 times of 60 ug/m3), PM 2.5 = 152 (nearing 4 times of 40ug/m3), Ozone = 34.03 ( 100 ), CO = 1.61 ( 02 ).

SO2 = 20.7 (less than 50ug/m3), NO2 = 78.76 (almost double of 40 ug/m3), PM10 = 275 (more than 4 times of 60 ug/m3), PM 2.5 = 129 (more than 3 times 40ug/m3), Ozone = 36.17 ( 100 ) CO = 1.64 ( 02 )

Continued in Part 5


THE REALITY OF DELHIThe Pollution status of Delhi for the year 2013, in comparison of National Ambient Air Quality Standards ( NAAQS ), is as below :

NO2 ( Nitrogen Dioxide ) is on higher sides & even more than double at few locations.  PM10 ( Particulate Matter 10 ) is 3 to 9 times at different locations.  PM2.5 ( Particulate Matter 2.5 ) is also on the higher side & even more than 4 times at few locations.  CO ( Carbon Monoxide ) is on the higher side, at TWO LOCATIONS out of 6 locations.  O3 ( Ozone ) has crossed the Prescribed limits at one location out of 6.

Continued in Part 4


On viewing such news reports in various news papers, we mailed many letters & reminders to both Delhi Pollution Control Committee & Central Pollution Control Board for a meeting to understand the issue and the reply was as below : 

Pollution status of Delhi for the last 3 years, that too from 16 locations i.e. 6 locations from Delhi Pollution Control Committee (R K Puram, Mandir marg, Punjabi bagh, Civil lines, IGI Airport and Anand Vihar ), PLUS 10 locations from Central Pollution Control Board (Sarojini nagar, Town hall, Mayapuri Indl area, Pitampura, Shahdara, Shahzada bagh, Nizamuddin, Janakpuri, ITO & Siri Fort), covering SO2, NO2, PM10, PM2.5, Ozone, CO, is being continued in PART 3.


Various news papers are presenting a horrifying picture of the Pollution levels of Delhi, stating : 1. Breathing poison : Delhi’s air was deadlier than Beijing this winter.  2. Pollution control plan in limbo as Delhi gasps for breath.  3. Delhi is most polluted city in the world :  WHO  4. Delhi world’s most polluted city, etc. etc.

Press cuttings with thanks : HT & other news papers
Continued : Pollution Status of Delhi : Part 2

Tuesday, July 1, 2014

Collector rates in new sectors in Mohali slashed by nearly 20 %

The administration has reduced the collector rate in new sectors in the district by nearly 20% to encourage the realty market. The decision means that the buyer of a property will pay reduced fee as the stamp duty levied on every transaction registered with the office of the sub-registrar. The rate has been left unchanged for the old sectors of the township with the new rates coming into effect from June 30 (Monday).
So, buying property will pinch you less in Sectors 85-92 in the residential areas. In the commercial segment, the reduced rates apply in Sectors 53-56 and Sector 71 onwards. Industrial plots also will attract the slashed collector rate.
From phase-1 to Sector 80, the old localities, the existing rates which range between`24,000 and`28,000, will continue to apply.

The decision is likely to positively impact the property market, which has seen a dip of 15-20% with no major buying or selling taking place in the district for the last three years.
with thanks : Hindustan Times : LINK : for detailed news.

New apartment act dumps co-ops

NEW DELHI: Close to 20 lakh people live in Delhi's apartment blocks for whom buying, selling and transferring property or applying for loans against their property is a bureaucratic hurdle with lots of paperwork and corruption. Delhi Apartment Ownership (DAO) 1987 Act had simplified the process for the flat owners by letting the builder or promoter of the flat execute a lease deed, which worked like a sale deed, and spared the owner from paperwork to correctly furnish title of the property and apply for freehold. 

The Act which hasn't been implemented since 1987, when it was notified, is now likely to be scrapped to make way for a new Delhi Apartment Ownership Bill 2013 that is currently being drafted. The new bill, which is among the priorities of the urban development minister Venkaiah Naidu, makes several changes and revisions in the earlier draft which are bound to impact lakhs of apartment owners across the capital. 

One major change is taking out cooperative group housing societies and DDA flats from its purview and retaining only privately developed flats. The new bill will also lay down punitive measures against the builder in case he delays the process of handing over management of the common areas to residents' associations and execute the lease deed. Senior DDA officials say the existing Act, which is being replaced with the new bill, did not have any teeth. 

"We have decided on some punishment, a fixed sum that the builder will have to pay in case he tries to delay the process of formation of associations or is not willing to hand over the common areas, which we will incorporate in the bill. There were also issues like duplication of authority, as the co-operative group housing societies were also covered by Delhi Co-operative Act. So, we decided to exclude them from the purview of this bill. We are also, through participation of local representatives, working to address other issues that were left unclear in the previous act," said Balvinder Kumar, vice-chairperson, DDA. 

with thanks : Times of India : LINK : for detailed news.

Sunday, June 22, 2014

House prices rise up to 7% in 12 major cities: National Housing Bank index

New Delhi  

The real estate market in Mumbai has shown a price increase after a gap of three quarters, according to the National Housing Bank's Residex survey, that tracks property values across Indian cities.

Mumbai saw an increase of 3.2 per cent, while Delhi recorded growth of 1.5 per cent in the January to March quarter this year. Both these cities are among the top real estate markets in the country. Delhi, however, has been showing an increase since the last two quarters.

House prices have increased by up to 7.1 per cent in 12 major cities, National Housing Bank said on Thursday.

Prices witnessed an increase ranging from 1.3 per cent in Bhopal to 7.1 per cent in Surat in comparison to that in the previous quarter of October-December, 2013, the quarterly update of NHB Residex said.

Prices, however, fell in 12 other cities, ranging from -0.6 per cent in Vijayawada to -5.7 per cent in Patna.

Indices for Faridabad and Kochi remained stagnant.

Ahmedabad saw a price rise of 6.1 per cent, Chennai 5.8 per cent and Kolkata 5.1 per cent.

Lucknow saw 4.9 per cent rise, Raipur 4.4 per cent, Mumbai 3.2 per cent, Nagpur 2.9 per cent, Dehradun 2.7 per cent, Hyderabad 2.2 per cent, Delhi 1.5 per cent and Bhopal 1.3 per cent.

Cities which witnessed a decline include, Jaipur (-3.8 per cent), Guwahati (-3.75 per cent), Bangalore (-3.6 per cent), Meerut (-3.5 per cent), Bhubaneswar (-3.47 per cent) and Ludhiana (-3.3 per cent).

Prices fell in Chandigarh by -2.7 per cent, Coimbatore (-1.7 per cent), Indore (-1.6 per cent), Pune (-1.3 per cent) and Vijayawada (-0.6 per cent).

with thanks : Business Standard : LINK : for detailed news story.

Home buyers have high expectations from Narendra Modi govt: Study

India has seen a decisive electoral mandate after a long gap leading to formation of a stable government at the Centre. While the industrial sector is excited about the positive outcome, there is talk of improvement in sentiment in real estate as well.
Buyers who were till now sitting on the sidelines, hesitating to invest their money in property, waiting for the economy to revive, are now showing a turnaround in sentiment, shows a study by The research conducted last month involving 1,400 home buyers, in cities like Mumbai, Delhi NCR, Bangalore, Chennai, Pune, and more, indicated this trend - when asked whether the new government's arrival would have a positive impact on real estate sector, 80% of the respondents answered in affirmatively.
As far as a drop in property price and interest rates on home loans is concerned, while 26% of home buyers are expecting a drop of over 10% in coming 12 months, 19% of the buyers expect prices to go up. Expectations of low interest rates on home loans are relatively high with 68% of home buyers believe that it will fall from the present levels.
Presently interest rates range from 10-14% depending on the cost of the fund for lenders. It has been speculated that government will announce measures in the forthcoming Budget that it will lower the interest rate burden on prospective buyers. This can be done by either giving industry status to some identified segment within real estate or by including home loans in the priority sector lending for banks.
with thanks : Financial Express : LINK : for detailed news story with graphics.