Residential property sales will take a year to improve, say top realtors

Residential sales will take at least a year before they make a broad-based recovery, senior executives from top property development firms such as DLF, Godrej Properties and Embassy say.

Residential sales have seen a slowdown for the past five years and prices have stagnated due to poor demand. Property developers also faced severe liquidity crunch due to demonetisation, Real Estate (Regulation and Development) Act, 2016, crisis in non-banking financial companies and so on.

Recently, the government announced a Rs 25,000-crore fund for stalled projects, which is expected to help stuck projects in top seven cities. 

“It is going to be worse before it