Readings: Bailout insufficient?, Commodity deflation, Mumbai realty discount
- BCA Research: The Bailout: Necessary, But Still Not Sufficient
- Business Standard: Domestic commodity prices down upto 16%
RBD Palmolein prices have come down by 8.14 per cent, while rubber fell by 20 per cent or Rs 28 to Rs 108 a kg.
In the metals segment, nickel lost the most with a fall of 16.11 per cent, while tin followed with 5.78 per cent and lead 4.63 per cent decline.
Natural rubber’s (NR’s) fall is attributed to the decline in crude oil prices, which makes synthetic rubber cheaper and pull down the NR prices.
Edible oils were down as the fall in crude oil prices resulted in a slowdown in demand for bio-fuels. And, palm oil being an important alternative for bio-fuel took the hit. That apart, an increase in acreage of oilseeds and expectations of better rabi crop also contributed to edible oils’ fall.
- Economic Times: Home prices may drop upto 12%
The bitter realisation that the Indian developer has limited options before him to attract buyers. The builders unanimously agreed to allow customers to have a greater say in price negotiations — in other words, they decided to cut home prices.
The developers agreed to give a 10-12% reduction for all consumers, albeit couched in schemes such as ‘bearing’ 2-3% of the interest cost, flexible rates for parking and floor rise pricing.
Indicative prices per sq ft:
Andheri (W) Rs 12,500
Bandra (W) Rs 20,000
Ghatkopar (W) Rs 8,000
Goregaon (E) Rs 9,000
Mulund (W) Rs 6,500
Worli Rs 35,000
They have ‘agreed’ to a reduction. What a joke. They are probably crapping in their pants, hoping that Mumbai realty doesn’t go into a free-fall.
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