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Residential property sales to suffer 20-30% next year, says Fitch

Fitch expects leverage of 7 large developers to increase in 2017, from around 87% at March-end (FY16) and 82% at FY15

BS Reporter  |  Mumbai 

Fitch Ratings expects residential property sales of most of the residential developers to come down by at least 20-30 per cent in 2017 because of the government’s move to demonetise certain currency notes. “Government’s move in November 2016 to curtail undeclared wealth by demonetising certain currency notes is likely to take a toll on demand. Property and gold are popular instruments for investing undeclared income in India’s large cash-based economy,” it said. Fitch expects the credit profiles of most residential developers to weaken, as slower ...

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Residential property sales to suffer 20-30% next year, says Fitch

Fitch expects leverage of 7 large developers to increase in 2017, from around 87% at March-end (FY16) and 82% at FY15

Fitch expects leverage of 7 large developers to increase in 2017, from around 87% at March-end (FY16) and 82% at FY15 Fitch Ratings expects residential property sales of most of the residential developers to come down by at least 20-30 per cent in 2017 because of the government’s move to demonetise certain currency notes. “Government’s move in November 2016 to curtail undeclared wealth by demonetising certain currency notes is likely to take a toll on demand. Property and gold are popular instruments for investing undeclared income in India’s large cash-based economy,” it said. Fitch expects the credit profiles of most residential developers to weaken, as slower ... image
Business Standard
177 22

Residential property sales to suffer 20-30% next year, says Fitch

Fitch expects leverage of 7 large developers to increase in 2017, from around 87% at March-end (FY16) and 82% at FY15

Fitch Ratings expects residential property sales of most of the residential developers to come down by at least 20-30 per cent in 2017 because of the government’s move to demonetise certain currency notes. “Government’s move in November 2016 to curtail undeclared wealth by demonetising certain currency notes is likely to take a toll on demand. Property and gold are popular instruments for investing undeclared income in India’s large cash-based economy,” it said. Fitch expects the credit profiles of most residential developers to weaken, as slower ...

image
Business Standard
177 22