Realty may face tough times ahead
It's been a black year for real estate developers so far and it's not going to get any brighter, especially if bankers are forced to raise interest rates in wake of monetary tightening by the RBI. "Compared to 2-3 years, there's been a 20-30% drop for the sector," said Pradeep Jain, Chairman, Parsvnath Developers. Home loan demand is already down 50% and cost of construction has gone up by 25%.
