By Amit BhagatThe real estate journey commenced with developers tying up with landowners for a joint venture. With the fall-out of the 2008 global economic downturn, and the past experience of FDIs, equity inflows in the real estate sector were replaced by high-cost structured debt since 2009. Due to an increasing demand for office space, developers focused on the commercial segment did extremely well. But the lack of availability of equity for unlisted players in the residential segment is acontinuing limitation. Banks, private equity players focused on structured finance, and NBFCs have been lending to real estate developers based on receivables, which have not followed the projected trajectory due to declining sales and time-correction.

Source: Economic Times November 24, 2017 18:44 UTC