Hyderabad: There is a record drop in the sale of luxury homes constructed in the posh areas of Hyderabad which clearly indicates weakening of the purchasing power of the home buyers.
A company undertaking property surveys across the country said that the home buyers are not showing interest in purchasing properties of more than Rs 2.5 crores.
There is a marked drop in luxury home sales in other cities like Mumbai and Kolkata as well.
The builders and developers in Hyderabad are apprehensive of stagnation in the real estate market. However the sale of low cost properties are increasing in many cities of the country.
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