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(From Business Line)
from BUSINESS LINE, July 23, 2006 News of a drop in speculative bookings of apartments is welcome, as the property market was increasingly falling into the grip of investors and speculators
"Real estate is fast becoming a speculative commodity... The siren of caution in the real estate market is now ringing loud and clear... southwards is where prices must go, but the correction has to be gradual." - Mr Deepak Parekh, Chairman, HDFC, in the company's Annual Report 2005-06
When a person of Mr Deepak Parekh's experience and eminence sounds a note of caution, you can ignore it only at your own peril. Mr Parekh has been cautioning about the unbounded rise in the property market for the last few months now
Indeed, the property market in India has taken off vertically in the last …