Header
News & Views on Indian Real Estate

Thursday, October 23, 2008

Realty Market Hit By Financial Crisis


India's fund starved real estate industry, which is already reeling under dropping sales, high interest rates and drying up of private equity sources, has to grapple now with credit squeeze created by this quarter. According to Mr. Anuj Puri, Chairman and Managing Director, Jones Lang LaSalle Meghraj, the RBI restriction on Indian banks from financing real estate companies is playing a role. As per industry sources, several realty majors have decided to go slow on their projects, especially in large cities, because of shortage of working capital, as banks have not only withdrawn overdraft facility but also decided not to process any more corporate loans.

Pawan said...

Yes they can slow down the construction and deliver homes 10 years later instead of promised 3 years. Who cares for the poor customers? Customer is the king?

Architectse said...

I love your blog..
its all about real-estate
http://www.architectsban.webs.com as http://www.seekangroup.com Read more about Green eco architectural designs are reusable materials, green designs etc.. ..… Create an Eco friendly Green design… Save Earth.. http://www.interiordesignersbangalore.com/" as of natural materials http://www.interiordesignersinbangalore.com with almost modern concepts using A few quick ways to reduce your personal carbon footprint: employ eco-friendly methods of travel, eat, minimize use of plastic products and save electricity, water, paper and use of non-toxic alternatives http://www.architectsbangalore.com Carbon Footprint is a measure of the impact human activities have on the environment in terms of the amount of greenhouse gases http://www.seekangroup.com/home save earth use architects suggested materials