CREDAI (Confederation of Real Estate Developers’ Associations of India), the realtors’ apex body today said that Indian housing sector is showing sign of improvement and by the next fiscal year it will completely improve. As per them, lot of sales activities have started in Hyderabad and in other cities and the sales are expected to go up during the festive season. There is a huge demand for homes, but the home buyers are still waiting and giving the real estate industry some time to bring the prices down. Besides, if there are any complaints from consumers, they have been asked to approach the industry body’s Consumer Grievance Readressal Forum to solve the issue.
In the last couple of years, real estate was suffering with high prices and high interest rates on home loan, which caused slowdown in to it. Apart from that, it had also been having a major financial crunch, leading to delay in the completion of projects.
CREDAI feels that housing prices this year will remain stable and if there is any hike, it would be due to increased in input cost. Like CREDAI, Property consultants also said that housing sales will improve this year in all the 8 metro cities.