The unrealistic India Real Estate boom has stolen sleep of Housing Finance company executives as they are more averse to defaulters after the prices begun to decline and borrowing stagnant.Rajiv Sabrawal of ICICI Bank said,
There has been a slowdown in the past 4-6 Months. The rise in Real Estate prices has directly hit the lending activity of the bank as well.
Deepak Parekh, Chairman HDFC said,
At Whitefield in Bangalore, Prices have fallen by 15-20%. Our borrowers are buying homes in far flung areas such as Dombivili and Ambernath.We were the first to report about the crash in Bangalore's housing market which Deepak Parkeh is telling now.
Tags: Housing Finance, Housing Bubble in India, Real Estate India, ICICI HDFC
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