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Thursday, December 18, 2008

Indian real estate developers to ask Government of India to buy out their unsold flats at current market prices and sell these flats at a later date!

First of its kind bailout demand!

The proposal floated by one of the big Delhi-headquartered and listed real-estate companies is one of the many ideas to be hard sold at the Planning Commission.

When contacted, a promoter of another leading Delhi-based and listed developer said this was not the only proposal on the table to bail out the sector.
“We want states to enter into joint ventures with big real-estate players by offering land as equity. State-owned banks must also be directed to start disbursing home loans now that they do not have a problem of funds,” he said.
To read more, please, visit - IndianRealtyNews

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1 comment:

  1. What a ridiculous idea - Govt should buy big builder's over-priced un-sold inventory at list prices so that these builders can come out of this crisis un-hurt with cash and can continue their outrageous pricing and selling techniques! Actually - Govt should not even reduce home loan rates to cushion high home prices - they should let these builders sink with their un-sold inventory and go bankrupt - with investors out of the buying market and end users unable to afford - let's see how much longer these builders stand up to their own smoke castles.