 "building, homes")
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.
Disclaimer: These are personal views of the writer. They do not necessarily reflect the opinion of www.business-standard.com or the Business Standard newspaper
