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Lending to real estate developers by non-banking finance companies and housing finance firms (HFCs) fell by almost half to about Rs 27,000 crore because of liquidity crisis triggered by IL&FS default in September last, according to a report by property consultant JLL. With large non-banking finance companies (NBFCs) and HFCs shying away from fresh lending to real estate developers, smaller ones have come to the rescue of builders and provided Rs 4,000 crore fund during the second half of the last financial year, it added. "Default by leading NBFC - Infrastructure Leasing & Financial Services (IL&FS) in scheduled payments led to a liquidity squeeze in the real estate sector since September 2018," JLL India Country Head and CEO Ramesh Nair said. NBFC and HFC funding was normal during April-September 2018, but due to the crisis, the lending slowed down substantially during the second half of 2018-19, considered to be the peak period for lending activities. "In 2018-19, net ...