The liquidity squeeze-induced slump in demand has forced real estate leader DLF to fire some employees, put a number of hotel and housing projects on hold and yearn for 7% home loan rates. “We must have laid off some employees somewhere,” DLF Chairman K P Singh told reporters on the sidelines of India Economic Summit, […]
Tag: interest rate
Rate Hike To Delay Realty Projects
June 26, 2008 – 1:00 am
Real estate developers see further slump in demand and price correction due to RBI’s move to raise interest rate. Caught between slow demand and rising cost of capital and construction, developers are deferring launch of new projects. Some even fear that ongoing projects may get delayed. Indiabulls’ group spokesperson Gagan Banga said, “Interest rate hike […]
Housing Loan Growth Rate Drops By More Than Half
April 29, 2008 – 5:49 am
With interest rates remaining high and real estate prices yet to show any decline, the growth in demand for housing loans is on the decline. The growth in housing loans, which was 25.8% (Rs 46,019 crore) during the period ended February 16, 2007, has declined to 12% (Rs 26,930 crore) during the period ended February […]
