Mr. Ankur Jalan, CEO, Golden Growth Fund (GGF), a category II Real Estate focused Alternative Investment Fund (AIF):
The slowdown in sales in NCR is a result of the exorbitant rise in housing prices in NCR, mainly Gurugram and Noida. This presents an opportunity for homebuyers to either re-direct their investment into luxury floors in the National Capital of Delhi or explore avenues like Alternative Investment Funds (AIFs) in order to maximise their returns from their real estate portfolio. The residential segment across the top 8 cities, mainly NCR, seems to be undergoing a cyclical downturn and may continue to witness some moderation in the years ahead.
Mr. Vijay Harsh Jha, founder and CEO of property brokerage firm VS Realtors:
The housing market continues to display resilience despite some slowdown as compared to past years. The rise in housing price may have played a key role in crowding out genuine homebuyers (in under Rs 2 cr category) as developers focus on ultra-luxury projects. The festive season, owing to factors like income and GST rationalisation, and lowering of home loan rates may spur demand. However, in all likelihood, the sales and launch numbers may be marginally lower than last year’s numbers.