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India: Correction in housing prices to continue for some time: NHB

Posted on 08 February 2013

National Housing Bank (NHB), the regulator for housing finance companies, today said there has been price correction in the housing market and it is likely to continue in some pockets, including the NCR region.
“There has been softening of prices in the housing market in some cities including NCR region. This trend may continue for some time,” NHB Chairman and Managing Director R V Verma said after releasing Report on Trend and Progress of Housing in India for 2012. In the national capital region (NCR), he said, price correction has happened due to over supply. Some more correction may take place in the coming days. He, however, said it is difficult to predict by how much prices could correct………………………………………..Full Article: Source


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