New Delhi, Nov 21 : Welcoming Finance Minister Palaniappan Chidambaram''s appeal of cutting real estate prices to stimulate domestic demand, real estate developers'' association in New Delhi on Friday announced up to five percent discount on the existing projects.
Earlier this week, Chidambaram urged companies to cut real estate prices to stimulate domestic demand. He highlighted the fact that the state-run banks had assured him that they were ready to lend to borrowers.
Some real state consultants say that prices of homes in National Capital Region (NCR) have fallen by 10-15 per cent due to a fall in demand.