Home prices going down in Mumbai
Mumbai Developers to Cut Record Home Prices as Sales Decline, IIFL Says
By Pooja Thakur - Dec 28, 2010 1:58 AM ET
“Fresh lending to real estate developers by state-run banks is taking longer than in the past,” Bhaskar Chakraborty and Avi Mehta, Mumbai-based analysts at IIFL, said in the note. “We see developers with debt refinancing requirement in the second half of the fiscal year ending 2011 increasingly coming under pressure to cut prices to monetize inventory.”
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