Friday, November 7, 2008

There’s no harm in creating a demand by lowering the property prices - Pujit Agarwal, M. D., Orbit Corporation

Chicken soup for Pune real estate developer's soul - 5

We did everything to keep the realty prices high — from shrinking flats to laying off employees and offering freebies to prospective buyers. But the slowdown has finally made us wilt. Now, we have to cut the property rates if we have to survive amidst credit crunch triggered by the meltdown, low demand and high interest rates. DNA

Previous Servings:

1) Chicken soup for Pune real estate developer's soul - 4

2) Chicken soup for the Pune real estate developer's soul - 3

3) Chicken soup for the Pune real estate developer's soul - 2

4)Chicken soup for the Pune real estate developer's soul - 1

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2 comments:

  1. Thanks Ravi - good to know that there is price correction happening in few pockets of Metro. Do you see any correction happening in Pune as well? Or has PBPA has atleast accepted the truth? I beleive the biggest mistake will be attributing no transaction only to rate hike...price itself is the biggest contributor in whole mess...

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