You are here: Home » Breaking News » Indian real estate firms urged...
Breaking News
Indian real estate firms urged to cut prices
20 Nov 2008
The Confederation of Real Estate Developers Associations of India (Credai) has made the appeal to developers in the emerging market.
According to the body, as many as ten million skilled and semi-skilled face losing their jobs if the decline in the growth of the real estate sector continues.
Credai has 3,500 members and although some have already heeded the warning, it is hoping that its entire membership will follow suit.
However, no fixed percentage has been requested to be taken off real estate prices, due to the diversity of property in terms of size, quality and location from across the country.
The body said that the move should build confidence in consumers by making property more affordable.
Credai was established to support the developers and builders in India by increasing their efficiency in the activities, introducing the latest technologies and ensuring they have up-to-date information on industry issues.
Login
Find A Company
Weekly Email News Round-up
Related news by topic
MGM Mirage resort to be constructed near Cairo
02 Jul 2009
Casino operator MGM Mirage has revealed that it will be entering a joint venture with a developer in...
MELA awards RAK FTZ 'Best Emerging Free Zone' for the third year
02 Jul 2009
Ras Al Khaimah, UAE - Ras Al Khaimah Free Trade Zone (RAK FTZ) has once again been recognised for i...
Source: Cityscape Intelligence
Investor confidence in Qatar 'better than the rest of GCC'
01 Jul 2009
Confidence among investors in June was higher in Qatar than any other Gulf Cooperation Council (GCC)...