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Tuesday, November 11, 2008

SBI Chief says 50% real estate correction likely
SBI's O.P. Bhatt says:
“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)

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Deepak Shenoy 11/11/2008 01:14:00 AM
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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
Anonymous Anonymous, at Nov 11, 2008 3:54:00 PM  
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)
Blogger Kruns, at Nov 12, 2008 2:20:00 AM  
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.
Blogger Anshul Gupta, at Nov 12, 2008 1:08:00 PM  

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