One factor that affected the growth of the sector in 2012 is likely to follow in the new year, too. Despite Finance Minister P Chidambaram's nudge to developers to cut prices for the unsold inventory so that they could be cleared, property prices are likely to remain high. During calendar 2012, NCR saw a 15 per cent appreciation in property prices.
However, realtors such as Mumbai's Mantri Realty claim they have already cut prices. "We have reduced prices as the finance minister requested," Sunil Mantri, chairman and managing director of Mantri Realty, told Business Standard.
However, according to Delhi-based CHD Developers, home prices will undergo a wave of high appreciation after six months.