Realtors fazed by Piyush Goyal's take, say lower prices may not boost sales

Commerce minister had urged developers not to wait for govt aid or markets to rationalise but start lowering prices and write off their earlier investments as bad business decisions

The real estate industry is disconcerted by the observations of Commerce and Industry Minister Piyush Goyal that the players in the sector should not wait for government aid or markets to rationalise.
 

Rather, they should start lowering prices and, if the worst comes to the worst, write off investment as bad business decisions, the minister said.
 

Executives say the sector has been ailing for several months since the shake-out in non-banking financial companies, and the pandemic-related shutdown has made the bad situation worse and needs special treatment.
 

While Goyal said lowering prices was the only way out, industry leaders cited