Developers In India Increasing Prices

Published: July 17, 2009 at 8:59 AM | Author: Administrator
News Source: 9 July 2009 - Propertybytes.com

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Realtors in India are not offering discounts anymore on properties and in some cases are even increasing prices as demand rises. Rising sales are also stimulating some developers to return to the luxury end of the real estate market which had stalled in the economic meltdown. "Prices are likely to inch upwards in the coming months in some markets," said Mr. Kumar Gera, chairman of the Confederation of Real Estate Developer's Association of India. Unitech has increased prices slightly; by some 2% in its Gurgaon projects but Mumbai based developer, Lodha Group, has raised prices by 10 to 15%. Bangalore-based firm Brigade Enterprises has increased prices by 3 to 5% and said that it plans to continue doing so at regular intervals.