SAMARJIT SINGH, MD of Agni Property, a leading professional property services companies, describes that demand for new houses has fallen and people’s confidence on developers completing their projects is very low.

He says that those who are interested in buying are going in for ready to move in properties largely and in case of people, who have already booked, they are looking for a refund if they are not getting any clarity on the status of their property.

Offering a range of real estate-related services, including buying selling, renting, finance options and legal services, Agni Property, has recently announced its plans to invest Rs 60 crore towards expanding its presence across the country in the next one year.

Samar is the also president of APP (Association of Property Professionals), which is affiliated to one of the world’s largest organisation of property specialities NAR - National Association of Realtors.

Excerpts from a conversation with Praveen K Singh:

•What's the sense you are getting from international investors about the current Indian real estate scenario?

Everyone is fairly convinced and positive about the growth potential of India. However due to the current situation in the US and European markets, most of the investors are holding back investment decisions. Most of the investors whom we service are waiting for some semblance for normalcy before making any important investment decision. Our talks with most of them have been very positive and everyone sees the recovery in India to be much quicker than the US and European markets. The moment they see their market situation improve a bit, they in all likelihood would move in with their investments.

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