Nationalized banks return to fund noida extension projects
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Published on: Mar 3, 2016
Transcripts - Nationalized banks return to fund noida extension projects
Nationalized banks return to fund Noida extension real estate projects
There was time when banks were pulling out from backing the projects, but now they are
queue up at the power office to be enrolled for funding development works. The public
sector banks have decided to pay around Rs 5,000 crore as home loans and other
construction loans for Noida Extension projects.
The Greater Noida Authority is upbeat that the Greater Noida (West) region, previously
Noida Extension, is slowly being removed from the blacklist of banks and they have started
showing interest in backing buyers who want to invest in projects in the region. After the
land row in 2011, banks had closed financing such projects due to fears of land
acquisition being quashed by the courts.
Nationalized and non-banking financial companies, yet private banks have shown their
interest in this markets. Development authorities declare this will help create a good cash
flow for development works. We are more concerned in Noida, and Yamuna Expressway
and Greater Noida regions for lend right now, be it fresh loans or fixed installments of loans
Developers have now started breathing easy after this decision of the banks. Market
sentiment is related with funds and cash flow plays a vital role in delivering projects on
time. As nationalize banks have step in, like Canara bank is supporting, the market situation
is bound to improve.
Even real estate pundits have called this development excellent. Private and public sector
banks are currently keen to tie up with developers and this will give many choices to
homebuyers to pick a financial institution that suits them best.
This one of the additional features provided by the real estate business portals, the
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websites are available in internet and that entire website won’t have any queries part
because no one is ready to solve the customer problems.
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