Mumbai, Dec 8: The real estate business is witnessing a slump post demonetisation with potential home buyers maintaining a 'wait-and-watch' policy for a correction in property prices before buying their dream homes.
As a measure to boost the sector, builders have promised buyers to make adjustment and pay compensation if prices go down, stated a report published by The Economic Times.
There is a 40 per cent drop in enquiries and sales of real estate across key markets of Mumbai, Delhi, Bengaluru and Pune, added the report.
Sources say there is a lot of confusion among both the builders and buyers regarding price slabs.
"This expectation is drawn out of confusion, and not out of clarity. Realty developers are trying to provide stimulus to the market with price-guarantee schemes so that the market gains momentum. Enquiries for projects offering price guarantee schemes have improved over the last few days," said Prakkash G Rohiira, director, Karma Realtors, a property brokerage operating in Mumbai.