Seek Nod for Commercial Real Estate Loans Rollover

Real estate developers across Indian have sought RBI's (Reserve Bank of India’s) permission for a rollover of commercial real estate loans due for repayment by March 31, 2012. They have also appealed for a reduction in risk weightage for commercial real estate loans to help reduce the cost of loans.

While none in the industry is being able to put a figure to the loan amount disbursed to the India’s real estate sector,

RBI release dated November 2011 indicated nearly Rs.1,16,670 crore of gross bank credit was deployed to the commercial real estate sector as on November 18, 2011, against Rs. 1,05,479 crore on November 19, 2010.

Loan disbursal to the real estate sector grew by 4.3% from Rs. 1,11,836 crore as on March 25, 2011 to Rs. 1,16,670 crore as on November 18, 2011, reflecting commercial banks aversion to real estate projects in 2011.
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