Realty developers may see a 20% fall in housing prices, says Deepak Parekh

He said it was an excellent buying opportunity for potential homebuyers with job security and savings.

Property developers should be prepared for up to a 20 per cent fall in housing prices and have to create liquidity by selling their inventory at whatever prices they get, HDFC Chairman Deepak Parekh said on Tuesday.
 

“Next six months are going to be extremely tough. You need liquidity. Get the cash flows coming by selling properties at whatever prices you get. Don’t sit on the completed properties,” Parekh said in a video call, attended by about 5,500 developers and jointly organised by industry bodies Naredco and Credai.
 

He said it was an excellent buying opportunity for potential homebuyers with