After nearly four years of India Real Estate boom, the prices dropped 20-40 percent since their peak, property sales to an all time 50 percent low leaving developers under immense pressure. It was time for market correction.One of the key indicators of economic activity is Commercial real estate transactions, which is showing first signs of stability after a free fall during the early part of this year. In my view, the market shows initial signs of holding on with possibility of prices not sliding further. This is certainly not a recovery as yet, but at least we can say the downturn has been arrested. Most Real Estate companies are getting enquires showing signs of demand trickling in. It is certainly a wait and watch scenario to gauge demand sustainability.An initiative taken by many companies during the stagnating capital values and sales slowdown was investing in technology that would help them to manage resources better, to achieve optimum productivity, to access information effectively. The End-to-end solutions that manage diverse projects across different locations were slowly being. ERP vendors were seeing increased enquiries pushing them to develop tailored solutions targeted at mid-market realty firms.
