India’s overheated real estate sector has been slowing since May 2008, as interest rates rose sharply and investors finally balked at paying ever higher prices. Meanwhile, inventories have built up to unsustainable levels and put additional downward pressure on the market. The global credit crisis has not only squeezed buyers, it has also starved developers – some of whom are leveraged up to 250 per cent - of funding needed to finance new projects.
With economic growth expected to...
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