Friday, August 21, 2015

Developers must lower rates, clear stocks: Rajan

Reserve Bank of India governor Raghuram Rajan on Thursday said that there was a need for real estate developers to clear unsold stocks by bringing down prices.
“If real estate developers sitting on unsold stocks started bringing down prices, that would be a very big help to the sector. Once there is a sense that prices have stabilized, more people will be willing to buy ,“ said Rajan in response to a proposal from SBI chief Arundhati Bhattacharya that easier home loans, could spur demand.

“I think we need the market to clear. With growing unsold stocks, we need to figure out ways to do it,“ said Rajan. He also said that rural demand could revive strongly if the monsoon picked up.

No comments:

Post a Comment