| Sale of flats in Mumbai will continue to remain sluggish even after the Reserve Bank of India on Tuesday reduced by 50 basis points its repo rate. "The interest cut won't make homes affordable as property prices are already high and are unlikely to come down given the high input costs," said a property consultant.
Developers say they have had to increase property prices by 5% to 10% as the cost of funds has increased along with input costs and other expenses...............................................Full Article: Source
|