Mumbai Developers to Cut Home Prices as Sales Decline, IIFL Says
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Mumbai developers may cut record-high home prices to revive flagging sales after banks curbed credit to the sector, according to IIFL Ltd.
Registrations for home sales, leases and property transfers fell 15 percent this quarter from the three months ended Sept. 30, the brokerage said in a note yesterday. “Selective price cuts” are expected in the quarter ending March, it said.