Realtors reject CRISIL's forecast on home sales

Housing sales fell 35% across eight major cities in the July-September quarter, as demand slowdown continued in the property market

Some of the biggest real estate developers said they did not agree with rating and research firm CRISIL that residential sales was unlikely to revive in the next 12-18 months.

Rajeev Talwar, chief executive at DLF, expects home sales to pick up at least in the next financial year, if not in the next calendar year.  “We are in a new economic cycle. The goods and services tax (GST) is settling down. The faster the people adapt to new changes like the GST, the sooner there will be recovery. It all depends on the change in sentiments.” 

He said the agencies were