Real(i)ty check on prices under way

A price correction of 10-15 per cent is slowly happening in the realty sector across the country though it is area-specific in cities.While realtors point to various factors for the downtrend, developers blame skyrocketing land prices. Others tend to point fingers at a demand-supply mismatch and investor disenchantment. “Though a definite correlation cannot be established between the stock market and the price drop, investors/speculators are exiting the realty space,” says Mr Pankaj Renjhen, Managing Director, Jones Lang LaSalle Meghraj, Mumbai.

The Hindu Business Line : Real(i)ty check on prices under way