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WIll SBI's loan revive trust?

In SBI's scheme, the buyer pays only the down payment. The developer pays the interest during the construction period

Harsh Roongta  |  New Delhi 

Once upon a time, when all was hunky-dory, things were simple for developers. They just needed to announce a project and buyers would line up to buy them, financed by banks willing to provide cheap loans. The developer, then, would take his sweet time in delivering the project.

Buyers did not like the delay, but rising real estate prices made the delay worth their while. Even banks did not complain too much, as they earned interest income from borrowers, both during the construction period and after delivery. The developer pocketed a neat profit and went on to the next project. Everyone ...

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First Published: Wed, January 15 2020. 21:57 IST
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