No price correction likely in Mumbai realty market: HDFC
Economy & Market

No price correction likely in Mumbai realty market: HDFC

Vikas Damle

Mortgage major HDFC on December 5 said a correction is unlikely in the runaway property prices in the metropolis, where the demand continues to be robust.

HDFC Vice-Chairman and Chief Executive Keki Mistry told the media on the sidelines of an industry conference organised by PwC in Mumbai that he can't see any big drop in prices. The inherent demand for real estate in Mumbai is always going to remain strong, he added.

The only factors which can potentially bring down the prices are a dramatic improvement in building by-laws, which will allow more high rises and increase the supply, and a high incidence of job losses, he said.

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