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India: Home sales could rebound in 2013 helped by quicker approvals and lower finance cost

Posted on 07 February 2013

Home sales in India could rebound in 2013, helped by quicker project approvals and lower cost of finance, according to analysts. “Residential markets have entered CY13 on an encouraging note, with robust offtake seen in new launches across markets over the last three months,” global financial services group JP Morgan said in its January report. “We expect volumes in residential markets to improve over the next 12 months on pick-up in pace of new launches coupled with price discounting and mortgage rate cuts.”
According to CRISIL Research, absorption of new residential units across six key cities - Mumbai, the National Capital Region, Pune, Bangalore, Chennai and Hyderabad - is expected to increase at a compound annual growth rate (CAGR) of 7% to 251 million sq ft in the next two years……………………………………….Full Article: Source


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