How Southern Cities Dealt With Spiraling Realty Prices?

South has seen steady growth:

According to Jackbastian Nazareth, CEO at Bangalore-based developer Puravankara Projects, "We have seen stable sales in the south. Sales in the last fiscal were better here than in the north." In Bangalore, 10.55 million square feet of property have been sold in the March quarter compared to 9.16 million square feet over the same period previous year and the property market in Chennai has witnessed growth of 26 percent in the same period, according to Liases Foras, a real estate research firm.

Unsold Inventories:

Chennai and Hyderabad have total number of 42.75 million feet and 33.38 million square feet of unsold inventories, respectively. In contrast, Mumbai metropolitan region and Delhi-NCR have 121 million square feet and 233 million square feet of unsold inventories respectively, which will take nearly 23-40 months to sell these unsold stocks, according to Liases Foras.

VK Sharma, chief executive officer of LIC Housing Finance stated that While Mumbai and Delhi-NCR have slowed down, Chennai, Bangalore, Hyderabad, Pune and Kolkata have led the demand for home loans."