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- Thats very interesting !
Thats very interesting because this means that the RE companies realise that the game's up for them. Remember, the claim to future riches (especially DLF) was the belief that their Land Bank bought at lower prices would make super profits for them in future. In other words they are cutting up the Goose that lays the Golden Egg!!!
Interestingly the same thing happened in US in 2007. After calculating all the costs along with declining prices it was discovered that the RE companies swallowed their own story about land banks. In reality their land banks had a precise value of ZERO! That was when reality hit.
We are seeing this now in India. We are following the US with a lag of 1 - 2 years. Don't think we will do as badly as them, but you never know.
Most interesting would be to find out WHO IS BUYING? and AT WHAT PRICE?