Slowdown in Real Estate Market in Delhi

NEW DELHI Prices of homes in Delhi have dropped by 20 per cent-35 per cent over the last one year,developers,investors offering big discounts to sell their assets in a slowdown economy.

Six months ago, discounts on new homes in the area were being offering only by developers facing oversupply. But with the economic situation worsening the investors and businessmen who are ready to sell the high-end apartments at low rate.

While prices have fallen across in every colonies of Delhi.For instance, a 2,000-sq ft apartment in Defence Colony, available for Rs 9.5-10 crore a year ago, is now being negotiated for around Rs 6.5 crore and Rs 8 crore, according to dealers. Similarly, the price of a 2,300-sq ft apartment in Vasant Vihar has dropped to Rs 10-12 crore from Rs 12-14 crore last year.

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