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Mangalore Real Estate Developers Seek Funds

Discussion in 'News' started by Rohith, Jul 30, 2012.

  1. Rohith New Member

    The real estate developers' body in Mangalore has urged bankers not to compare them with developers in mega cities while extending funds to them.
    Speaking at the inauguration of a home loan fest, organised by the State Bank of India (SBI) here on Saturday, Mr P.M.A. Razak, Chairman of Mangalore chapter of CREDAI (Confederation of Real Estate Developers' Association of India), said loan sanctions are not materialising because bankers compare them with their counterparts in metros.
    Stating that NPAs or sub-standard assets are unlikely in Tier-2 and Tier-3 centres in the country, he said a major portion of the present NPAs in real estate sector is by a handful of big developers in the metros .
    He said a major portion of the local economy in Mangalore is driven by the real estate sector, as the city lacks mega industries and investments in IT (information technology) sector. More than 65 per cent of jobs for un-skilled workers in the region are generated by the real estate sector, he said.
    In such a situation, banks should help the real estate sector by extending adequate funds to them, Mr Razak said.
    Inaugurating the fest, the Karnataka Minister for Ports, Mr Krishna Palemar, said home loan and car loan ‘utsavs' like this would help customers own their dream house/car. Added to this, such loans will also help boost the growth of the city.
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  2. kynastonlaird Member

    Manglore is the chief port city of the Indian state of Karnataka. Its famous and popular city for real estate investment. Here I get such nice details about real estate developer funds. Its too good work.
  3. bojemrythem Member

    In real estate this factors are very important because its also depends on economical condition. If you want to invest money in real estate than you have to manage every economical condition and its price is also depends on market prices.
  4. Rohith New Member

    Thank you so much..
  5. davisongray New Member

    The major economy driven in this state is one type of city industrial investments. The region generated by the estate skillers of the real estate investments. It has some extending adequate funds of the investments.

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