No end seen to liquidity woes for India’s real estate developers
Most developers rely on banks for funds, and are bearing the brunt of RBI’s directive to curb lending to the sector
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It was not a boom as touted by the agents, builders and sundry. It was an after shock of the IT market melt down. The foreign currency flow into Indian banks and due to low rate of interest, people invested in properties. Now that the party is over and pockets are empty, the property consumers backed off. Harder times ahead for Indian real estate unless they wake up now.
Ravi