This means that there is room for negotiation, in case you are interested in any of the projects.

Says Verma: "In the sub-Rs 30 lakh category, there's not too much room for negotiation as there is a huge demand for them. In the Rs 30 lakh-75 lakh price bracket, you can negotiate in the range of 5-15 per cent.

However, there are few takers for the Rs 75 lakh-plus category. These will continue to languish even if the developer offers discounts of over 15 per cent. In some cases, these properties are being split and then sold off."

Price movement

The crucial question here is which way will prices move in the next 12 months. Says Vakil: "Capital values will not go up. In some pockets, they will even correct. But transactions and volumes will increase."

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