Real estate prices across major metros are to remain flat in the near-term as the overall demand remains subdued coupled with a lot of unsold inventory in cities like Mumbai, developers and analysts said.
According to a study by real estate consultant Jones Lang LaSalle India (JLL), Delhi NCR, Mumbai and Hyderabad had 28 ,36 and 38 months of unsold inventory, respectively, in the first quarter of 2014 were significantly higher compared to the last five years.
"There has been some positivity post the election. Some buyers who were on the edge of taking a decision have gone ahead. But there is no euphoria and a lot of inventory remains, particularly I see slackness in high-end apartments," said Anuj Puri, chairman and country head, JLL.