The country is currently reeling with high realty rates. But, if brokers and analysts are to be believed, these prices are set to correct to the tune of 10-20% soon.
There has been a lot of distress in the space with debt mounting, interest rates rising and sales not quite happening. Also, there have been numerous talks on the demand-supply imbalance in the sector, but R Vasudevan MD of Vascon Engineers denied saying, "We don't see that scenario hitting us at least; we have been busy with executing the orders for which bookings have been done."
Seeing an upsurge in demand for commercial property in Bangalore, Venkat Narayana CFO of Prestige Estates said, "There are a lot of enquiries. We have leased quite a bit of the space this fiscal already."
Below is the verbatim transcript of these experts' interview with CNBC-TV18's Latha Venkatesh and Anuj Singhal. Also watch the accompanying video.
Q: How is the situation in the ground looking like, is it a situation where builders are trying to hold out but buyers are not biting?
Vasudevan: I don