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INDIAN REALTY WAKES UP TO THE US MELTDOWN 26/09/2008
The recent financial debacle in the US has sent shock waves across the globe and is also projected to impact the Indian real estate sector directly or indirectly, sooner or later. Adequate and timely funding would be a major concern for developers. Already, there are indications of investors — individuals or institutions — withdrawing their funding. While big players consider this shake-up as a temporary phase, most global property consultants anticipate correction in property prices. Buyers are adopting a ‘wait and watch’ policy and the cascading impact of the US financial tsunami might be felt on real estate too in terms of movement in projects, property prices and stocks of real estate companies. Let us examine the mixed views on the collapse of major US financial institutions on the Indian realty.
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