Tag: High Interest Rates

Parsvnath says festival sales down by half

October 24, 2008 – 8:39 am

Sales at Parsvnath Developers’ in the festival season of Diwali are down to half from a year ago, but the real estate developer does not plan price cuts to boost sales, its chairman said. High interest rates on home loans and central bank rules forcing banks to assign a higher risk weight to real estate […]

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Home prices may fall in first quarter of 2009

October 21, 2008 – 2:10 am

Potential home buyers, who have been deferring their purchase decisions, may have to wait till April-May to get a good deal. The ripples of the ongoing financial crunch, coupled with mounting pressure from various other circles, will peak between January and March. That’s when many developers will be forced to sell the unsold stock at […]

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Government Relaxing Entry Restrictions For foreign Players In Hotel Construction

July 3, 2008 – 7:07 am

In a move that could help curb hotel room crisis ahead of Commonwealth Games 2010, the government is considering relaxing entry restriction for foreign players in construction of hotels and resorts. It is looking at a suggestion to bring down minimum development rule of real estate from existing 50,000 sq feet to 20,000 sq feet […]

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Oversupply May Bring Home Prices Down

May 22, 2008 – 7:05 am

Knight Frank India, a real estate consultant company, predicts more correction in house prices if the existing slowdown in residential property sales keeps on, Chairman Pranay Vakil said.

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RBI’s judgment has spooked real estate cos

January 30, 2008 – 1:10 am

MUMBAI: The Reserve Bank of India’s (RBI) assessment not to slash interest rates has spooked real estate business facing the brunt of a housing business slowdown caused by the high cost of mortgage financing. RBI, on Tuesday, decided to keep interest rates unchanged in its third-quarter monetary policy review. Real estate companies were expecting a […]

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