Despite the slowing trend in the real estate market, Adi Godrej, chairman of Godrej Group expects a strong growth in its property business in this fiscal (FY12). "We will announce several new projects this year," he told CNBC-TV18 in an exclusive interview.
Going by latest reports sales volumes are seemingly getting muted for key cities like Mumbai. Though Godrej agrees to this fact he goes on to say, "In spite of this, we have three new projects in Mumbai. We also see strong commercial property demand in Vikhroli and development projects are underway in that region." Sales in cities like Ahmedabad, Kolkata are good, according to him. Also read: Godrej ends Hershey's JV, says it's looking at other buys Below is the transcript of his interview with CNBC-TV18's Latha Venkatesh and Anuj Singhal. Also watch the accompanying videos. Q: The house sales registrations have fallen rather sharply and there is a lot of unsold inventory with builders in Mumbai. What is your own comment? Do you think that the industry now is so poised that you might see a slowdown, a fall in property prices or do you think the slowdown will continue, but will not impact prices? A: We donDiscover the latest Business News, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!
