January 5, 2011

NHB: Property prices will soar in 2011

India's housing regulator National Housing Board (NHB) said yesterday property prices would go up in 2011.

"In the next one year, property prices would be moving northwards which will create a dampening impact on demand, resulting in correction of prices" said NHB Chairman R V Verma. He predicted price correction would take place in all the metros.

NHB is expecting loans from World Bank and Germany-based bank KFW to fund low cost housing and energy efficient houses.