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

Rate of home sales has fallen by about half since the government's demonetisation in early November
Thursday, January 12, 2017 - 05:50

Residential and commercial buildings in the Byculla area of Mumbai. India's largest developers had just been starting to see the first signs of a recovery in demand for homes when the policy change came.


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.

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