| Market reports point to reduction in property | | | | Mumbai, prices of apartments in areas such as |
| prices across the key metro cities in India. Cities | | | | Andheri and Goregaon are about 20% below their |
| such as Delhi, Mumbai and Bangalore that have | | | | peak prices according to real estate brokers. |
| witnessed a huge run up in prices over the last | | | | Prices have also fallen in Navi Mumbai and other |
| few years are seeing a correction. Property prices | | | | suburbs. While the monsoon season is typically a |
| in other cities such as Kolkata and Chennai that | | | | low season, this time there is a 25% dip in |
| still have affordable housing available are not | | | | transactions, also leading to pressure on prices. |
| seeing a decline, though growth rates may slow | | | | While the mid-market segment has seen a decline |
| down.The drop in prices is driven by the sharp | | | | in property prices, the prime residential market |
| increase in housing loan interest rates in the last | | | | has till recently done very well.More information on |
| few months as well as other steps taken to | | | | this article is published on at the link below:This |
| control a potential housing asset bubble financed | | | | article is sponsored on ezinearticles by ( is the |
| by massive doses of loans. For example, the | | | | leading site for news and views on the Real |
| Reserve Bank of India on Apr 18 took a | | | | Estate and Property market in India. Stay |
| sector-specific approach in its annual monetary | | | | informed on the latest Indian Real Estate / |
| policy to curb the phenomenal growth in bank | | | | Property News including National, Regional, |
| credit. The RBI advised banks to raise the | | | | Residential, Commercial, FDI, Infrastructure, and |
| provisioning requirement for housing loans beyond | | | | more. |
| Rs 20 lakh from 0.4 per cent to 1 per cent.In | | | | |