“In India we may witness up to 50% correction in pricing in the mortgage markets. If that happens, it’s good news for the Indian banking system as NPAs would reduce and new business would fall-in,’’ he said at the concluding session of Ficci-IBA Conference on Global Banking: Paradigm Shift, in Mumbai on Saturday. (Nov 8)Interesting. First I've seen, from someone related to the industry. (Note: I'd said we would see a 50% fall in Mumbai, on Sep 29 2008)
SBI Chief says 50% real estate correction likely
SBI's O.P. Bhatt says:
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3 comments:
Today's Pune Mirror has a report that says prices in upmarket South Mumbai have fallen 50% specially in Malabar Hill.
Regards,
Anshul
This fall in real estate is just for short time (3-4 months). From March 2009, Real estate market will bounce back.
Regards,
Kruns
(http://kruns.blogspot.com)
What is so special about March??Is it becoz of budget. I believe as it took long time for euphoria to subside , similarly it'll take a long time for the panic to go off. I think nothing is going to change for at least another 2 years.
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