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65% home buyers expected to default on their home loan EMIs: ICC

India virus covid-19 pandemic
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Real estate sector, especially residential segment, is likely to witness tougher times ahead. While the construction activities have completely halted because of the lockdown, it will take months for developers to resume it even after lockdown is lifted.

Another problem that looms large over the realty sector is homebuyers defaulting on their home loan installments. According to the Indian Chamber of Commerce (ICC), an industry body, “the real estate sector already in a slump since last year is presently experiencing almost 65 percent payment default from customers paying the installments linked to construction." Developers are worried that default by home buyers in their installments can exacerbate the cash crunch in the industry. “The

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COVID-19
United States
United States
Cases: 46 252 513
Deaths: 750 423
Recovered: 0
India
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Cases: 34 321 025
Deaths: 459 652
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Brazil
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Deaths: 608 235
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United Kingdom
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Deaths: 141 607
Recovered: 0
Russia
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Cases: 8 494 589
Deaths: 237 619
Recovered: 0
Detail statistic
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