The Buying Decision
If you are planning to buy a house "wait till January-February 2009", says Pranay Vakil, chairman, Knight Frank India. If developers have to blink and cut prices, they will do so by then.
Interest rates, too, are likely to go down further, and that process will only be helped by the government's efforts to give housing a fillip and keep the economy rolling. Mavani says that this is the right time to start searching, although the buying can happen a bit later.
Given the financial health of developers, go only for ready-to-move-in projects. "If you feel it is reasonable and affordable, don't think too much. Go ahead and buy it. If you start thinking too much, you will never end up buying," says Singh. "If you are buying a house for self consumption, a 10-15 per cent swing in prices should not matter," says Mavani.
Image: A bedroom is seen in a showroom apartment. | Photograph: REUTERS/Nigel Roddis
Also read: This is the best time to buy a car!
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