Thursday, 21 April 2011

India Builders to Face ‘Large-Scale Distress,’ Knight Frank Says

http://noir.bloomberg.com/apps/news?pid=newsarchive&sid=aCJhy9DTh7b8

Mumbai, India’s most expensive real estate market, had a record number of unsold housing units, Goenka said. Still, he doesn’t expect developers to slash prices. Land values have declined by as much as 40 percent from peak rates, he said.

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