The prices are not moving up in metros for more than a year now and the buyers including investors are staying away from making a purchase decision, so brokers are in a fix currently.
An Industry watcher said that the Real Estate Developers are facing a cash crunch in the NCR and Mumbai Metropolitan Region and are approaching brokers to underwrite their properties to save the day and maintain prices of properties in a bid.
“So as the new real estate projects that are launched, brokers underwrite a bulk of apartments and the developer can show it as sales,” said Sachin Sandhir, managing director, Royal Institutions of Chartered Surveyors.
Kaustuv Roy, executive director, Cushman & Wakefield, said “For the whole system to work two things are very important, first there should be buyers in the market and second the prices should continue to increase at a faster rate.”
