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Last Updated : Jan 09, 2012 02:46 PM IST | Source: Reuters

India's HDFC CEO expects 5-15 pct fall in property prices

HDFC-PRICES:India's HDFC CEO expects 5-15 pct fall in property prices

MUMBAI (Reuters) - Housing Development Finance Corp , India's largest mortgage lender, expects property prices across the country to correct between five to fifteen percent on average, its Chief Executive Keki Mistry told reporters on Monday.

Indian developers have seen a sharp slowdown in sales as rising interest rates deter residential buyers and funding for builders becomes scarce as economic growth slows in Asia's third-largest economy.

(Reporting by Aditi Shah; Editing by Subhadip Sircar)

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First Published on Jan 9, 2012 02:46 pm

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