Good news for everyone who have waited for 1 year (two years?) now?
I have been saying this for two years now.

A house I wanted cost 40 lakhs then. Sometime in early 2006..
By 2007, it had become 50 Lakhs..

Sometime in July 2007, I was offered a cosy flat very near (3-4 house away) from a posh locality in delhi for 30 lakhs. Someone bought it for 27. The same guy approached me sometime in july-august 2008 with a new offer. Great!!

People are willing to sell homes now? When people start selling, the price should fall right?
He approached me with an offer of 45 lakhs. Someone I know said, he can negotiate it for me for 42.

I’d rather be paying rent.
Price should fall, so I wait. In the same aprtment, a friend of mine just bought (november 2008) the 1st floor aprtment for 50 lakhs. I plan to rent it from him.

Well!! But this is Delhi. And in selective places, prices might not fall. The games Village Apartments won’t correct.

I still agree that prices have fallen. Just approach a real estate dealer/broker and tell him you want sell your flat. let another of your friend approach the same broker with the intent to buy, and he will say that prices have not risen but not fallen either.

Check out ares in Greater Noida, Faridabad, Indirapuram.. prices are softening.. So I heard in Pune also… But Mumbai, Delhi etc we can wait for a few more months, no?