Land prices crash on slowdown, regulation

In markets such as Gurugram both time and price corrections have happened, in markets such as Mumbai, only time correction has happened

Recently, Delhi-based developer BPTP sold a 14.8-acre land parcel to Godrej Properties in Dwarka Expressway in a deal estimated at Rs 350 crore. According to a consultant who has studied the valuation of the deal, the same plot was offered to prospective buyers in 2013 at 28 per cent higher valuation.

In another instance, when Singapore based Ascendas-Singbridge Group bought a 16-acre land parcel in Pune for about Rs 200 crore from a local developer, the group negotiated the deal at eight per cent lower rate than the originally quoted price a couple of years ago, said a source. This is