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Barring A Few Prime Locations In Mumbai And Delhi, Land Transactions Have Slowed Down

Courtesy/By: Snigdha Kashyap | 16 Jul 2018

In past few years, the rates of properties and lands barring a few prime locations in Mumbai and Delhi has taken a hit.

In normal area the land deals are being stuck at rates lower than or the same as five years ago. Even developers are mostly opting for joint developments with land owners.

Prices of the properties have stagnated and fallen in some cases. Landowners who want to sell their land negotiate downwards upto 5-10% in suburbs of Mumbai.

In Gurugram too the sales have dropped significantly along with the land price for about 25-50%.

Infact after two failed attempts GlaxosmithKline Pharmaceuticles Ltd sold 60 acres of space in Thane to Oberoi Reality Ltd for Rs 555crore.

“Even prices in some of Delhi’s prime residential colonies are down by 40%,” said Rajeev Talwar, CEO, DLF ltd.

Courtesy/By: Snigdha Kashyap | 16 Jul 2018