13.10.2008 - India: Realty players face moment of truth
From Indiatimes.com: The fresh wave of liquidity crunch is set to worsen problems for the Indian real estate sector. The sector is already facing a cash crunch on account of diminishing sales, expensive and largely unavailable credit and drying up of private equity funding. And if an economic downturn sets in as feared, many developers may go out of business and others may be forced to drastically cut prices. Property consultancy firm Cushman & Wakefield estimates that real estate activity in the current fiscal is not likely to be more than half of what it was in the previous year..... Full Article: Source