New Delhi: Around Rs 60,000 crore worth of loans given to the developers of Mumbai by banks and NBFCs are severely stressed, according to ANAROCK Property Consultants.
This is almost double of the loans which fall under ‘severe’ stress category in Delhi NCR. Delhi NCR has about Rs 30,000 crore worth of loan that re severely stressed.
While Mumbai based developers have received a total of Rs 2.45 lakh crore as loans, Delhi NCR based developers have got around Rs 1.60 lakh crore.
Bengaluru has received around Rs 1.12 lakh crore as loans but a meager one percent is currently under severe stress category.
Chennai got Rs 26,000 crore loans and only Rs 2,200 crore is under severe stress. Pune received.
Mumbai, Delhi NCR and Bengaluru together account for around 80 percent of the loans given to the real estate sector. These three cities have a combined Rs 90,000 crore loans that are in severe category and there is little hope that these would be returned to the banks or the NBFCs.