MUMBAI: The real estate market has deteriorated compared to the last six months, according to a report released by Knight Frank India and the Federation of Indian Chambers of Commerce & Industry.
Titled the 'Real estate sentiment index', the quarterly report captures the suppliers' perspective of real estate market conditions. It described the current sentiment as pessimistic across all zones, although East and South remain marginally more optimistic compared to the rest. Mumbai and Pune were the front runners in price appreciation during 2009-2013 in the residential sector. Shishir Baijal, CMD, Knight Frank India, said, "Notwithstanding the economic risks associated with the impending general election, stakeholders expect an economic expansion during the next six months. However, we believe that political compulsions will supersede any economic urgency leading to a delayed economic expansion during this period."