This showed that there can be demand even in turbulent times, provided the price is right. "This was the time when developers started thinking about pricing and sizing of units," says Vakil.

Subsequently, developers came up with the affordable housing plank, which has seen reasonable success.

Says Aashiesh Agarwaal, real estate analyst, Edelweiss Securities, a financial services company: "Developers have adjusted their product mix so that it appeals to the masses. The market also required lower-priced products."

Sustainable trend?

Sales in new project launches has picked up marginally. But whether the trend is sustainable remains a question.

"It could be sustainable, if the pricing and sizing are right," says Vakil.

Powered by