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DLF freezes projects, fires staff; seeks lower rates

New Delhi, November 18:: The liquidity squeeze-induced slump in demand has forced real estate leader DLF to fire some employees, put a number of hotel and housing projects on hold and yearn for 7 per cent home loan rates. "We must have laid off some employees somewhere," DLF Chairman K P Singh told reporters on the sid ....Read more

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Actual reason...By: Bhaskar | Wednesday , 19 Nov '08 9:19:50 AM Reply | Forward The way DLF has projected the real estate boom , it was bound to happen when there is slow down

Slow Down and no job cutBy: Chandra | Wednesday , 19 Nov '08 1:28:36 AM Reply | Forward Intervene by PM and FM in falling marketis distrous for common man as Obama project if walstreet shin definely there is blood on street..if u speed yr car and speed and speed what will happen ? it should slow at turning stop in market meet necesity..then it ok. Slow down shuld happen in big way so common man can afford to buy their necessaity.And company should not be allowed to cut jobs rather reduce salrythen it is ok for Common man. Every should be given a chance to work like in PSu tennure of work should be reduce to minimum to 10 years. and govt tennure should be of 3 yers perfom or quit.

Kick the builders off By: Rizwan | Wednesday , 19 Nov '08 0:56:05 AM Reply | Forward I would suggest everybody not to buy houses anymore. whoever is planning to buy houses please don't do so, let the filthy rich builders to come on their knees. These are the same people whoever looting you and now let them realize their mistakes. This is just a begining of global meltdown, so it's better to keep your money in savings for future, don't invest anywhere.

DLF freezes projects, fires staff; seeks lower ratesBy: nkore | Tuesday , 18 Nov '08 22:39:30 PM Reply | Forward Instead of doing so complicated things, DLF can reduce there selling cost, already steel prices are at bottom. Bank rate is not serious concern for buyers, but the Over Rates ( With High Unjustified Margins ).

unaffordable housing pricesBy: khanna | Tuesday , 18 Nov '08 19:44:33 PM Reply | Forward we all know this was artificial fake boom in the housing market , how can house prices increase in 3-4 folds witin span of 3-4 years i remember in 2005 the prices was 2900 and now its 6500 per square foot how can someone purchase house and pay home loan all their life, these builders only wants to make as much as they can without considering peoples need, money matters

CURSED LOTBy: Shailesh Gupta | Tuesday , 18 Nov '08 22:12:58 PM Reply | Forward The builders community is the dirtiest community and all these builders should go bankrupt...these bastards

Greedy real estate mafiaBy: telles | Tuesday , 18 Nov '08 18:54:21 PM Reply | Forward The greedy real estate mafia created fake booming ,

tax breaksBy: paul | Tuesday , 18 Nov '08 18:30:22 PM Reply | Forward I think tax breaks should be given for a single house and if you want to have the second house and get tax break, you have to sell the first one. Taking housing loans just for tax breaks and speculation should be discouraged.

DLF Layoff issueBy: manish | Tuesday , 18 Nov '08 18:03:29 PM Reply | Forward I would like to adv Mr. K.P. Singh(world's 9th richest man) that please show some richness in your thinking as well.You are making good buildings no doudt but never think about a common man's need. Your slogan is "Building India" but it is completely misleading as till now u r not able to provide houses to middle-class people.You have make huge profits out of your buildings,and became billionaire in no time.Have you ever thought that what a common man will do as you are not making small and cheap homes,,how can you say that you are building india as your houses are not in accessible to a common man.Now you are feeling heat as demand in decreasing day by day,it must be.Instead of laying off your employee use a simple ligic,create cheap and suitable homes so that demand keep ringing and you will get good profit instead of huge..And laying off employees is not a good idea at all,it will be a short term gain but in long term it will deminish your companies image..think about it sir

Black mailBy: vicky | Tuesday , 18 Nov '08 17:15:17 PM Reply | Forward Oh come on this is totaly a black mail . You asking for the interest rates now in this time of crises. There should be some more regulations about this industry

DLFBy: Aravind | Tuesday , 18 Nov '08 16:14:38 PM Reply | Forward Successive State and Central governments have failed to regulate this industry. Even the mortgage market in the US suffered because of unrealistic prices! When would our greedy builders and politicians learn! There is too much black money in the market - common man cannot afford a house. Moreover, there are no budget flats; everyone target the rich! If supply and demand is taken as a basis to increase the price, the price should be down now! Moreover, it is clear that manpower also very much a commodity for some business houses! It is high time that companies also take social responsibility. Otherwise, we are going to have a very violent society very soon

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