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SBI Chairman supports the current economic scenario

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The entire country is mourning on the present situation of the realty market along with the stock values lasting from last couple of fiscal years. But at this crucial instance, Chairman of State Bank of India O P Bhatt comments that it is very necessary for a time to time checking of the market to put a balance in the rocketing rates of the various trades. According to the sources of www.propertykhazana.com the last reading of the Sensex during January was recorded at a height of 22,000 points which fell down to just 8000 points following various market slow down.
At the same time the property rates which was over the sky has come down to range of common man affordability with rise in interest which further led to the shortage of liquidity for the construction. Later on the aspiring loan consumers have led down their plans for the better rates in the future hence bringing down the selling rates of the property units, adds Bhatt. He further reveals that beside the rise in bank rates the property prices are moving higher and higher than the developed nations. Sources of www.proepertykhazana.com also reveals that during this peak hours the GDP has rose up to 6 to 7 percent in Indian economy which is recorded as much higher than the developing states of US, Japan, Australia and UK which were injured due to the financial crisis attack last year.
On an advising note Bhatt says that he is sure that the country is free from any financial crisis as compared to the other countries and no attack can injure its economy. The only difference is now that the people will be more cautious in their expenses as compared to previous years. For more and latest realty updates visit www.propertykhazana.com.
Source: NBTVLIVE

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