The Selling Decision
If you are a short-term investor in property, you would find it tough to get the kind of return you were expecting based on the experience of the last 2-3 years. If you need cash and do not intend to hold on to the property for at least five years, this is the time to cut your losses and exit.
"You cannot afford to be too greedy; if you do, you will get burnt," says www.99acres.com's Singh. You have to be realistic about your price expectation and also be a little flexible during negotiations. If, however, you have a medium- to long-term horizon and no liquidity pressures, stay put.
This is a cyclical downturn that will be followed by a recovery, although it will take a while to come.
Image: A worker adjusts decorative lights on a model of skyscrapers representing the future of Mumbai city. | Photograph: REUTERS/Arko Datta
Also read: LIC, SBI, other banks on a hiring spree!
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