In the present scenario, the prices of commercial
property including commercial office spaces as well as shops in malls and
shopping complexes have dropped 30% from their uttermost values in 2008 because
of an excess in supply and weak demand over the last few years. A slowdown procedure in the economy has
reduced the frequency with which new trades come up and existing ones scale up,
a fifth of trade space is empty in the country.
Addition of new commercial space has made the condition inferior, say
some property experts and advisors.
According to some real estate agents, commercial property prices
in Mumbai city have fallen 34.7% from the peak of 2008, while those in the
conurbations are down 30.7%. The situation in Delhi is poorer, with prices down
38.7%. In Gurgaon’s off time areas, commercial space is available at rates
39.3% affordable than in 2008, while in Noida, the costs are down 19.2%. Among
other places, costs are down 7.3% in Chennai and 8.3% in Pune.
The situation of real estate market in Delhi is very worse, with
prices fall down 38.7%. In Gurgaon’s off growing areas, commercial space is
available at charges 39.3% very cheaper than in 2008. If we talk about Noida,
the prices of real estate properties are down 19.2%. Among other places, the
prices of real estate properties are down 7.3% in Chennai and 8.3% In Pune. The
real estate market is in the positive scenario compared with 2008 level in
Bangalore where costs are up 0.2%.
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