Deepak Pareek, chairman, HDFC is not among the worried men who are circumspect of the rising markets. Not just yet. The country’s most famous banker said the market is not sitting on a bubble, nor will the flood of initial public offerings (IPOs) take away liquidity from the system.
He is however, very concerned about the commercial real estate space on account of over-supply. “There is a huge glut in commercial real estate sector and prices will come down soon as there are no takers,” he said adding developers will have to reduce commercial real-estate prices atleast by 10% to get rid of their stock.
On economy in general, Parekh said the country has had good monsoons, which will take care of food inflation.
Source: Money Control
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