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Covid-19 outbreak: Real estate majors rule out price cuts after lockdown

Despite fall in sales, supply constraints may keep prices firm

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Margins in middle-income housing have fallen from 30-40 per cent to sub 20 per cent levels, experts say. Photo: PTI

Raghavendra Kamath Arnab Dutta Vinay Umarji Mumbai/New Delhi/Ahmedabad

4 min read Last Updated : Apr 30 2020 | 2:10 AM IST

Though the nationwide lockdown is taking a huge toll on the real estate sector, property developers are in no mood to cut prices. This despite the fact that the March quarter of CY 2020 witnessed a 30 per cent decline in the sale of residential units and there will likely be a similar fall in sales this calendar year.

“We don’t have any plans to cut prices. The industry has been reeling from a slowdown for the last eight years. There is limited scope to cut any prices,” said Mohit Malhotra, managing director at Godrej Properties, the real estate company

Topics : Coronavirus Real estate sector in India Real estate firms Hiranandani Constructions Realty sector Real estate developers

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