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20.04 - 14:41
Keep bank account standard, clear inventories: SBI chairman to real estate
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New Delhi: State Bank of India Chairman Rajnish Kumar on Saturday exhorted real estate firms to keep their bank account standard, clear inventory as soon as possible and improve perception about the business.
While plain-speaking to the real estate players, Kumar said course correction has to be undertaken by the industry if they want to survive and get back on track as soon as possible. "Clear inventory as soon as possible.
We believed that prices will go up but unfortunately the prices are not going up. There was a time when there were first time home buyers and there were investors and in five years you could double your money...those times are over," he said in a virtual conference organised by realtors' body NAREDCO.
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