Real estate is in focus as a Knight Frank report indicates that real estate launches crash to the lowest level in seven years in the first half of 2017 whiles sales volumes are down to the lowest in five years.
In an interview to CNBC-TV18, Gulam Zia, Executive Director of Knight Frank spoke at length about the sector.
Zia said price is not just a matter of volumes alone.
He said that prices depend on wealth creation.
We have seen reduction in size of apartments, said Zia. Ultimately, buyer looks at a ticket size and not the price per square feet, he added.
However, prices have fallen significantly in the National Capital Region (NCR), said Zia.
On affordable housing front, he said demand has definitely picked up.
He is seeing a lot of incentives for shifting demand to affordable housing
According to him, with Real Estate Regulatory Authority Act (RERA) kicking in, confidence in under-construction market is picking up.
Watch accompanying video for more details.
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