The Government will soon redefine India’s real estate tag with a step to encourage lending excluding segments like hotels, hospitals and educational institutions.
Finance minister, P. Chidambaram is in discussion with RBI Governor Y W Reddy regarding this proposal. After provisioning norms for real estate have been doubled to 2%, public sector banks have created their own space in these segments.
The demand for hotels, hospitals and educational institutions has fallen after the provisioning need of other segments have increased and according to some industry watchers, this market behaviour has encouraged the need to exclude them from the main stream category of commercial real estate. As a result, these segments do not play an important role in View the rest of this article
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