26.10.2011 - Indian realty in deep trouble as profits down and costs, debt rise; firms forced to sell assets
When even the man who is building the world's tallest residential tower speaks of real-estate slowdown that could last for years, it is clear the foundations of a once-soaring industry are starting to shake. Behind gleaming white gates, Abhisheck Lodha's 117-storey World One - where luxury apartments start at $1.5 million and rise past $15 million - will boast private swimming pools at cloud level and a 1,000-foot-high open-air garden...............................................Full Article: Source
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