Even Trump building isn't immune to India's real estate woes

Mumbai

AFTER trying for four months to sell his apartment in a western suburb of Mumbai, Meher Verma decided to cut the price by 10 per cent. With property demand plummeting in the wake of November's sudden ban on high-denomination notes, he's not sure the reduction will do the trick.

"I was hoping to sell my house soon," said Mr Verma, who put his two-bedroom property in Andheri on the market for US$400,000 in September. "Now it looks like I might have to cut my price or wait much longer for the market to improve."

Real estate has long been a place where Indians have parked cash, ofte…