| From Thehindubusinessline.com: The downward trend in the property development market is expected to reverse as soon as interest rates become reasonable, a top industry official said. “The property development market is down today. It has seen a strong growth and continues to grow at 20 percent per annum.
As soon as interest rates become reasonable, it will pick up,'' the Godrej Group's Chairman, Adi Godrej, said. People were willing to take mortgages which was growing rapidly. The mortgages market increased by 100 fold during the 1999-2008 period. The growth of the Indian middle-class was driving the property development sector, he said..... Full Article: Source
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