DLF, the India’s largest property developer, will soon conduct a poll among Indian property brokers to decide the pricing and number of apartments to be offered in the second phase of its Capital Greens project in West Delhi.

It’s a novel experiment, but property brokers in Delhi say the company is trying to test the waters in view of the vastly changed situation in the Indian real estate market.

Developers such as DLF, Unitech, Omaxe, Parsvnath and HDIL were among those that cut Indian property prices or forayed into mid-income housing, which were 25 to 30 per cent lower than prevailing prices, in the last quarters of 2008-09, as the economic slowdown and fears of Indian job losses impacted home sales. Indian property sales fell 50 per cent from their peak in 2007-08 (when prices had more than doubled froom 2004-05) as buyers stayed away.

Those days are rapidly becoming a distant memory, with many Indian developers increasing prices 15 to 30 per cent the moment they became sure of demand returning.

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Tags: Indian property developers, Property prices in India

This entry was posted on Wednesday, September 16th, 2009 and is filed under affordable housing, Developers in India, News, Property in Delhi, Property in NCR, Recovery in Indian property. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.