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Friends

Came to know about news w,r,t Dubai debt crisis".Now does this throw a spanner on slowly improving economy


secondly will the RE scenario suffer due to this

http://timesofindia.indiatimes.com/biz/ ... 274343.cms

opinions regarding this

Thanks in advance

Regards
PC

it is a symbol of pathetic condition of the Real estate Sector across the world. Still the media and the Developers are trying to confuse the genuine buyers by artificially hyping the demand/price rise news.

Again its a great damage to the Banks and the Non-Banking financial institutuions and they'll again put more and more stringent measures to provide liquidity to the real estate sector as it contains huge risks to them.

With the Dubai World crash, no bank/NBFC's are in a position to recover their money atleast for next 1-2 years. From India, its a news that Bank of Baroda and State Bank of India have given loans to the amount of Rs.7,000 Crores. It will be a NPA in their book now.