Financial Daily from THE HINDU group of publications
Saturday, Jul 16, 2005
Financial Daily from THE HINDU group of publications Saturday, Jul 16, 2005 |
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Money & Banking
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Interest Rates Interest rates to `remain flat' in short-term Our Bureau
Mumbai , July 12 INTEREST rates will go up marginally in the medium-term, but remain unchanged in the short-term, according to the HDFC Chairman, Mr Deepak Parekh. "There is possibility of interest rate inching up in the medium term due to rise in oil prices, but in the current year, they will remain flat," Mr Parekh told reporters after the Annual General Meeting of the company. He said the real estate prices were high across the country and could fall from these levels. "Real estate prices have gone up and it is not affordable for people to buy houses at current levels. They are likely to fall from these levels". On the company's real estate fund, Mr Parekh said it would give an annual return of eight per cent, but 15-16 per cent is possible over three-year period.
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