Real estate magnate Niranajan Hiranandani does not expect property prices, which have corrected by about 25% over the past year, to decline any further.
'(Property) rates have fallen by about 10-25% over the past year-and-a-half. I do not expect rates to fall any further. So, I think people should start buying homes now,' Hiranandani Constructions Managing Director Niranjan Hiranandani said on the sidelines of a conference.
Describing ICICI Bank's step to cut interest rates on new home loans by 0.50% as a 'good move', Hiranandani said demand for property had begun to pick up now.