[INDIAN REAL ESTATE NEWS] Good morning, everyone. I’m Kim suhyeon staff of Kamagroup Pvt. Ltd.
Here I have an important Indian real estate news to share with you which is as undermentioned.|
Kolkata: Besides the financial sector, the real estate business may also face the heat due to the ongoing crisis in NBFC sector, triggered by IL&FS default.
"As on March 2018, NBFC's exposure towards real estate is 7.5 per cent accounting for Rs 1.65 lakh crore," real estate consultant Anarock Capital MD & CEO Shobhit Agarwal told PTI.
"Post the banking systems freeze on real estate funding due to rising non-performing assets, NBFCs and HFCs are the sole source of funds for the cash-strapped developers," he said.
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