Good Time To Buy Land As Prices Dip, Says Anand Piramal

Land prices have dipped and it is a good time to buy, Anand Piramal, executive director at healthcare-to-real estate Piramal Group, told BloombergQuint in an interview.

The market is witnessing a consolidation and in the next six months developers can look at buying land, Piramal said. There is good traction for commercial space and the group is also looking to expand in the segment, he said at the launch of the company's corporate park.

“Going by the current trend, prices would appreciate for good developers but they would be in proportion to inflation,” Piramal said.

Piramal Realty gets 70 percent of its business from the residential sector and rest from commercial. It launched a 16.5-acre non-IT corporate park in Mumbai with a total investment of Rs 2,400 crore.