Property developer Puravankara Projects is unlikely to cut its residential project prices despite an appeal by Confederation of Real Estate Developers’ Associations of India (Credai) to its over 3,500 members to cut prices to stimulate demand.

“We have not decided anything yet. There is no scope for a cut as prices of our projects are already low,” Director Ashish Puravankara here today.

On Wednesday, Credai urged its members to cut prices after Finance Minister P Chidambaram suggested the industry should reduce prices to boost sales.

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