Mumbai real estate prices should correct further, says Knight Frank

The stocks in focus this morning will be the realty pack - a Business Standard report this morning suggests that there might be a tax on the unsold inventory held by developers. In an interview to CNBC-TV18, Gulam Zia, Executive Director of Knight Frank assessed the impact.

Zia said real estate industry is in a doldrums situation with so many changes; regulatory and goods and services tax (GST) etc. It was weathering those blows and this is supposed to be the next one.

He further said that unsold inventory was always there, now we just have more clarity on the data.

Talking about real estate locality in general, he said the worst affected market is National Capital Region (NCR) and on the other hand Bengaluru developers have always been doing well.

According to him, Mumbai real estate prices should correct further.

Watch accompanying video for more details.