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India: It’s time to cut real estate prices

Posted on 17 December 2012

It’s been a tough year for home buyers, as well as builders. With property prices continuing to hold steady or even rising for most of the year, the middle and even upper middle class have found themselves out of the market. But there are initial signs of correction.
According to data from the National Housing Bank, in the July-September quarter, prices of residential property fell in 10 of 19 cities. Three chairpersons of realty firms and the chief executive officers say this shows where builders are going wrong and what lies ahead for the property market in the near future………………………………………Full Article: Source


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