The regulator for
HFCs (housing finance companies), National Housing Bank (NHB), has advised
lenders across India to fund partially finished housing projects that are
viable. But are stuck because of want of funds or / high house prices.
Reduce Prices.!
In an advisory, the
NHB has asked banks and HFCs to reassess these projects and, if required, ask
developers to reduce prices so that housing demand is revived and unsold
inventory reduced.
R.V .Verma, Chairman,
NHB said, "We want to ensure that whatever capital is locked up because of
these stalled projects is released & people get their houses"
Last November (2012)
month, finance minister Mr. P. Chidambaram had asked heads of PSU banks to help
builders / promoters revive growth in the housing sector. The minister had also
asked banks earlier to put pressure on real estate developers to bring down
home prices.
According to property
research company Liases Foras, an average of
22 months of inventory remains unsold across the top 6 cities in India.
The pile-up stands at
39 months in the MMR (Mumbai Metropolitan Region) and 28 months in the Delhi
NCR (National Capital Region)
No comments:
Post a Comment