Builders in top 8 cities owe lenders Rs 4L crore

Builders in the top 8 Indian cities owe banks and NBFCs Rs 4 lakh cr even as their total sales each year are worth just Rs 2.47 lakh cr. It is expected to take seven years to clear the outstanding amount based on the current rate of earnings per year. The annual EMI on this total loan is itself Rs 1.28 lakh cr.

from Times of India http://bit.ly/2WIVWH0