Price correction in housing sector: Verma
Due to the inventory build-up in certain areas in the city, it was stated by the National Housing Bank (NHB) that there might be certain amount of price correction in the housing sector.
The projects which are unsold due to the high price perception will witness price correction simultaneously to the current reduced revision in the housing loans, announced by R V Verma, NHB Chairman and Managing Director.
Major banks such as State Bank of India, Punjab National Bank, HDFC, ICICI Bank and Vijaya Bank have also reduced their home loan rates.
However, the amount of price correction have not been confirmed yet.
Verma also said that there are measures being taken to assess extent of project not completed and the reason for the delay.
build-up, Chairman and Managing Director R V Verma, HDFC, high price perception, Housing finance firms' regulator, Housing sector, ICICI Bank and Vijaya Bank, National Housing Bank (NHB), Price correction, Punjab National Bank, State Bank of India
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