)
Indicating non-performing assets (NPAs) trends in the real estate sector, the NPAsource.com's data has revealed that an estimated Rs 7,700 crore worth of commercial and residential properties of NPAs are up for sale. A portal focusing on resolution of stressed assets, NPAsource.com has compiled data of NPAs in terms of properties with banks and financial institutions.
As per the data collated by the portal, there are around 2200 units in the commercial category and nearly 11,000 units in the residential segment. NPAsource.com has total NPA properties worth around Rs 27,500 crore registered on its portal spread across 27,626 units. Commercial NPA properties have a 15 per cent share in value term while residential properties have a 13 per cent share.
The biggest chunk of NPA properties fall under the industrial land & building category with a 65 per cent plus share in value terms.
"Maharashtra, largely due to Mumbai, tops both the commercial and residential categories with Rs 842 crore and Rs 838 crore respectively. Delhi comes next with Rs 686 crore worth of NPA commercial and Rs 500 crore worth of NPA residential properties. Andhra Pradesh comes at number three in the residential properties ranking with Rs 497 crore worth of space up for sale under NPA properties to be auctioned by banks and financial institutions. Tamil Nadu, West Bengal and Uttar Pradesh are the next three states with highest value of commercial and residential NPA properties," said DK Jain, Chairman & MD of Atishya Technologies Ltd, which owns NPAsource.com.
The single largest commercial property in value terms is an office property at New Delhi valued at Rs 200 crore at the base price.
In the residential category, the single largest NPA property happens to be a farm house at New Delhi with a base value of Rs 40 crore.
Mumbai has two NPA commercial properties with a base price value of Rs 26.5 crore and Rs 24.6 crore.
"As NPAs in the corporate sector continue to grow in the coming months, there will be more commercial and residential properties which will be put under the auction block by banks and financial institutions to recover their dues.
A slowdown in the real estate markets across the country has further added to the woes of the lenders who will not be able to generate higher returns from the sale of mortgaged properties in the residential and commercial spaces.
A positive turnaround in the realty market as well as the Indian economy may take place around May if a stable government is formed at the Centre," said Jain.
As on March 31, 2013, net NPAs of 40 listed banks were Rs 93,109 crore, which rose to Rs 1,28,533 crore as on September 30, 2013.
