| From Live Mint: Heavily leveraged real estate developers are running out of options with banks reluctant to lend and their delivery deadlines nearing. Some have been forced to borrow from private lenders at steep rates.
As the Indian economy faces a liquidity crisis, banks remain wary of lending money to the real estate sector. The developers, facing deadline pressures for delivery of projects, are forced to tap private money lending sources. Consequently, they have been forced to borrow money at steep rates..... Full Article: Source
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