Real Estate Prices will fall further on weak demand

By Dr Sanjay Chaturvedi
It is only a relocation happening as far as sale volumes are concern. Mumbai have lost any trend in inclusive growth. Migration from other states have also been alomost stopped by politician. Hence the sale volumes are remaining only with relocation and going in for better accommodation or to capitalise on the home ownership, making money and going in for cheaper accommodation. People getting money as a compensation form redevelopment process are the one are buying because of the compulsion to save capital gain taxes.
This trend will lead to futher price fall in select pockets in developing zones like Navi Mumbai, Thane, Pune, Faridabad, Nashi, Mohali, Siligiri and other two tier cities.