Property Prices Must Fall, Raghuram Rajan Tells Developers

Reserve Bank Governor Raghuram Rajan on Thursday made a case for reduction in property prices given the high inventory of unsold flats across the country. "If real estate developers, who are sitting on unsold stocks, start bringing down prices, that will be a big help to the sector because once there is a sense that the prices have stabilized more people will be willing to buy," Dr Rajan said. (Watch) I thing we need the market to ...