It is on recovery path definitely and good times are ahead as the prices have stabilised to a large extent, say the industry leaders. The most hit after the real estate boom were the projects that came with a spacious design, high-end specifications, and naturally a higher price tag.
“Smaller and reasonably priced projects in a good location are doing well and there is no argument about it,” says Bhawarlal Jain, executive vice-president, Andhra Pradesh Real Estate Developers Association.
Mr. Jain points out, smaller apartments with a price tag ranging between Rs.2,300 per sq.ft and Rs.2,500 per sq.ft have been more successful in finding buyers.
Another builder points out that budget housing, with measurements to the tune of 1,000 sq.ft to 1,200 sq.ft and priced at Rs.2,000 per sq.ft or just above is not that badly placed.