US Housing Crisis melts Indian Realty valuations

The sub-prime crisis may have struck in the US, but real estate companies around the world are feeling the heat. The meltdown in property firms’ valuations in other economies, including India, China, Japan and the UK, has surpassed that of the US with Indian real estate companies witnessing one of the biggest falls. Some leading Indian real estate firms are trading at about 34% discount to their Net Asset Values, which implies that property firms are being valued at just two-thirds of the assets they hold.