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India: Correction in the housing market may be round the corner

Posted on 28 January 2013

Home prices in Mumbai softened in the December quarter while price growth in other Indian cities slowed, two real estate consultancy firms have said, reinforcing speculation that a correction in the housing market could be round the corner.
According to property consultancy CBRE, prices of new homes in India’s financial capital Mumbai were down 2-5% in the October-December period from the previous quarter. Liases Foras, another property research firm, said prices in the city had dropped 1%. Both said that the rate at which prices were growing in the other cities, too, had come down significantly………………………………………..Full Article: Source


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