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Pune Real Estate sees a correction in realty prices

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According to the sources available with the www.propertykhazana.com, apparently everyone are fine and that’s just what the city builders in Pune say. However, graze the surface, follow the track to its source, piece ostensibly is not the same matter and the huge picture narrates a different story.
To go back to where all this started, US sub-prime housing loans prices issue has now unconstructively impacted most exporters, especially IT companies. Presently, as the real estate explored to a big extent fueled by the IT segment and the slowdown can be rationally completed and will also have an unenthusiastic effect on the domestic realty. Turning the situation much worsen, for the IT segment where comforts like bench power are a far-away dream and the private banks are no longer lending at prices as low as 7.75% but for about 12%.
Claimed sources to www.propertykhazana.com says, as the results the salaries of IT conglomerates plummeted and the EMI accountability for the borrower has gone up by almost Rs. 5,000 per Rs. 10 Lakhs loan. For the banks these loans accounts when the non-payment period crosses 90 days and converts into non performing assets (NPA) which in turn will unenthusiastically crash the bank’s profitability shoving the banks or even the borrowers to liquidate the land. The situation will turn similar to that what happened in US in the recent times.
Source: NBTVLIVE

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