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)Get access to India's fastest growing financial subscriptions service Moneycontrol Pro for as little as Rs 599 for first year. Use the code "GETPRO". Moneycontrol Pro offers you all the information you need for wealth creation including actionable investment ideas, independent research and insights & analysis For more information, check out the Moneycontrol website or mobile app.
First Published on Jan 9, 2012 02:46 pm