financing a project and the only channel for reliable cash flows for a developer. The rate cut would provide a marginal benefit, but can do nothing to address the core issue: high prices.
ďA sharp revival in the fortunes of the industry will be accelerated if the demand resistance arising from high prices of housing can be addressed through more affordable prices,Ē says Pranab Datta, chairman, Knight Frank India.
Until that happens, the prospective buyer may have to remain a fence sitter on the lookout for a good investment opportunity.
(With inputs from Sandeep Singh)