With the Reserve Bank of India leaving interest rates unchanged, the country’s real estate sector is already feeling the heat as disappointed customers shy away from buying properties, industry experts said on Wednesday. Sales of real estate companies have been dipping for the last two years, with developers, especially those in the National Capital Region (NCR) and Mumbai refusing to slash prices. As a result, unsold properties or inventories on the books of India’s top-ten listed realty players have gone up by 13% at Rs. 41,455 crore so far in 2012. “Real estate developers are holding on to high prices despite the fall in demand,” said Ambar Maheshwari, managing director,
[via India Properties - Real Estate India - Indian Property News Site]
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