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Real Estate Briefing - Categorized | Finance, Market Moves more

India: LIC scam will rock real estate

Posted on 26 November 2010

From Indiatimes.com: CBI investigations into the multi-crore loan scam, which has put in the dock senior managers of LIC Housing Finance and several public sector banks, is sending tremors across the real estate sector. As more skeletons emerge from closet, experts fearing that the scandal could lead to a 10-15 per cent correction in the market.
The biggest area of concern is that these officials have been accused of giving loans to companies in return for monetary benefits from a city based financial services company, Money Matters, said to be associated with top real estate firms……………………………………….Full Article: Source


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