Developers should have mix of residential, commercial properties: Experts

Housing sales fell by 35% across eight major cities in the July-September quarter this year as demand slowdown continued in the property market

Developers should have a right mix of residential and commercial projects for healthy growth, say experts. A media report says developers are turning to office projects due to a prolonged slowdown in residential sales.

"After 2008, many developers started focusing on residential projects due to global financial slowdown. Vacancies went up and rentals were down and they stopped building new commercial projects. Today, vacancies are in single digits, rents are inching up and cap rates are down to 7 to 8 per cent, " says Shishir Baijal,  chairman at Knight Frank India.

Baijal believes developers should have a right mix