Home loan prepayment in risk!
It is a fact that realty sales dropped down badly during 2011.
Even a recent survey by real estate experts revealed that the housing financing companies also had to face same situation resulting in home loan sales drop down.
However, in the real time scenario there is a different story in concern with these housing finance companies lending home loans to the builders and developers.
According to the recent report by IDFC Securities Ltd, the home loans provided by private as well as the nationalized bank to the builders and developers are at risk!
During October 2010 and September 2011 these risky home loans have crossed Rs 1.6 trillion showing a major growth by 14 percent. This scenario is now considered as a black hole!
”IDFC Securities” experts say that the banking sectors who have blindly sanctioned huge amount of loans are sure to be in trouble.
Today, with the realty market drop down and the builders are facing tough time to sell their properties, the loan prepayment is a difficult task!
However, at least in future the report warns the home loan banking sectors to wait and watch for the realty scenario and then sanction respective loan amount.
Source: Live Mint
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