Supply glut might drive down property prices by 15-20 per cent in the days to come, according to Mr R.V. Verma, Chairman and Managing Director, National Housing Bank.
“There is likely to be a correction in property prices across the industry, particularly in the middle and high-income segments where there are large unsold stocks. My guess is that the correction could be in the range of 15-20 per cent as the industry has not done it (price correction) since a long time,” Mr Verma said while talking to newspersons on the sidelines of a banking conclave organised by the Federation of Indian Chambers of Commerce and Industry here on Wednesday.