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Why Developers Are Resisting Piyush Goyal’s Call To Drop Home Prices
Why developers are resisting calls for cutting prices even as inventory piles up.
09 Jun 2020, 02:05 PM IST
After Piyush Goyal’s advice to sell inventory at lower prices rather than going bankrupt, developers cited high ready-reckoner rates, or the minimum price to calculate taxes, for their inability to sell at a discount.Real estate developers are unlikely to sell their inventory at a discount in a hurry, said Niranjan Hiranandani, president of developers’ lobby Naredco, told BloombergQuint over the phone. The current regulations discour...
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