Residential Projects Register A 25% Slump

Residential Projects Register A 25% Slump. “New Delhi, India: Till recently, houses were selling like hot cakes… [Now] residential projects are feeling the heat of the US subprime crisis and poor market sentiments. The most hit is the North India property market with project sales witnessing a steady dip in transaction volumes. New project launches and even [existing] ones… are not finding enough buyers. Royal Bank of India: For 2007-08, growth in bank credit in housing has gone up from Rs 2,24,758 crore to Rs 2,51,668 crore, an increase of just 11%. Compare this with bank credit growth in FY07 and FY06 that stood at 24.72% and 38.31%, respectively.