New Delhi: The share of money lent to realty developers by NBFCs and HFCs as compared to banks has been going up steadily over the years in the country and touched an all time high of 56.28 percent in 2018-19 financial year as against mere 36.21 percent in 2011-12, as per a report by property consultant JLL and CII.
As much as Rs 2,605 crore was funded by NBFCs and HFCs to the real estate companies in 2018-19 fiscal while banks lent only Rs 2,023 crore. In 2011-12, only Rs 640 crore was funded by NBFCs and HFCs to the developers while banks had funded Rs 1,127 crore.
The share of NBFCs and HFCs funding in the overall financing to the developers was 49.45 percent (Rs 1,816 crore) in 2016-17 financial year and to 55.68 percent (Rs 2,335 crore) in 2017-18 fiscal.
The annual net credit of loans given to real estate developers has shown a mixed trend with mere Rs 10,000 crore outstanding in financial year 2015-16 which went up at Rs 55,000 crore in 2016-17 crore. In 2018-19, it was Rs 26,000 crore and in 2017-18, it stood at Rs 51,000 crore.