Will property price have big changes due to the pandemic ?
Most experts and developers believe that prices will largely remain stagnant though the costs may go up. “There will be no change in prices as transactions are not taking place. The prices will resume at the same level," said Mohit Goel, CEO, Omaxe Ltd, a real estate developer. Niranjan Hiranandani, national president, National Real Estate Development Council (Naredco), a real estate developers’ body, agreed. “In the primary market, I do not foresee any major changes. The market scenario has been ‘challenging’ for some time now, and possible discounts have already been factored into the current pricing.
Developers anticipate increase in raw material cost, but they may not be able to pass that on to buyers in the current market situation.