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
Dubai debt crisis=>impact on economy in general and RE
Re: Dubai debt crisis=>impact on economy in general and RE
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.
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.