Mumbai Property prices likely to correct next year: Report

November 26, 2013 18:43

Weak absorption and rising inventories in the residential market here may lead to price correction in the early part of 2014, real estate consultancy firm Knight Frank said today.

Nearly 2.9 lakh residential units are under construction in the city while unsold units stood at 1.3 lakh during the January-September period, Knight Frank said in a report.

"The weakening real estate prices suggest that long- standing stalemate between buyers and builders is finally turning in the buyers' favour. The increase in inventories coupled with weakening absorption levels would put further pressure on prices," its research director Samantak Das said.

« Back to LIVE

TOP STORIES

From HUL to Britannia, FMCG companies continue to lag India Inc peers

Big, listed FMCG (fast-moving consumer goods) companies such as Hindustan Unilever, ITC, Nestl, and Britannia have been top-performing stocks on the bourses in recent weeks. The Nifty FMCG index, which tracks the share prices of the...

'Tell Modi We Waited'

The MNS chief started his speech with the name of Nehru, then paused. After a few tense seconds, he resumed: "After Nehru, here is the only politician who will be PM for the third term."

Will come to BJP HQ, jail whoever you want: Kejriwal dares Modi

Kejriwal asserted that his party could not be crushed by sending its leaders to jail.

Impact Player rule has disrupted balance of game: Kohli

Virat Kohli has criticised the Impact Player substitution rule and said it is 'disrupting the balance' of the game.

Will win by a bigger margin, says Brij Bhushan's son

Karan Bhushan rejects the charges against his father, saying the "allegations are political and made up. We will challenge them in court".