India’s real estate market: Experts discuss outlook for 2021
Irfan Razack, CMD of Prestige Estates Projects, on Friday said that home sales have picked up in the last two quarters.
Irfan Razack, CMD of Prestige Estates Projects, on Friday said that home sales have picked up in the last two quarters.
Speaking in an interview to CNBC-TV18, he said, “There is some positivity coming into real estate. I have been always saying that real estate is a long-term play and in spite of all the odds, the home sales have picked up in the last two quarters and have done well.”
Razack said that Hyderabad, Chennai, Bengaluru have seen strong response of 35-45 percent.
Meanwhile, Ramesh Nair, CEO & Country Head of JLL India, said that where sales increased, developers have stopped giving discounts.
“One trend we are seeing is, where the sales increased the developers have stopped giving discounts. We are beginning to see some amount of reduction in sales. We all know that interest rates are at all-time low,” he said.
According to him, markets which will do well are Hyderabad, Bengaluru and Pune.
For entire discussion, watch video
(Edited by : Aditi Gautam)
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