WOLF OF DALAL STREET

The liquidity crunch has impacted the real estate market quite badly. Till date, there are US$63 billion of stalled residential projects in India according to Anarock Property Consultants. These developers are locked in a downward spiral with shadow banks.

The count of realty firms entering bankruptcy has doubled in less than a year since IL&FS went belly-up, Bloomberg reports.The number has risen from 209 in September 2018 to 421 in June 2019 as a resultant credit squeeze impaired developers’ ability to complete projects and service their debt.