“Today developers are ready to sell at Rs 40,000 per square (sq.) foot (ft). Last year, they were selling at Rs 50,000 per sq. ft,” says Sudha Kumari, a real estate broker in the Dadar East area of Mumbai. That is 20 per cent lower than last year’s prices. “Developers are worried about their loans. They want to sell, but buyers are in no mood to purchase,” says Kumari, highlighting the desperation of developers.
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