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Impact of housing scam on real estate

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Impact of housing scam on real estate

Last updated: December 1 2010
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  • Impact of housing scam on real estate

    Today there has been a lot of buzz about housing scam unearthed by CBI prevelant in most of public sector banks like central bank, lic housing finance, pnb and other banks.
    i invite comments from the members of this forum as to what impact will it have on real estate?
    will we see a situation where getting loan sanctioned would become extremely difficult?
  • #2

    #2

    Re : Impact of housing scam on real estate

    The economic offences wing of the Central Bureau of Investigation on Wednesday unearthed a major fake housing loan racket and raided various LIC offices and banks across the country.

    CBI conducted raids in banks and offices of LIC Housing Finance in several cities across the four metros.

    Comment

    • #3

      #3

      Re : Impact of housing scam on real estate

      prima facie, it would be more difficult to get a loan as some stringlent control might come in....dont see any other impact.

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      • #4

        #4

        Re : Impact of housing scam on real estate

        Next step is investigation of the RE companies which benefitted.

        Expect some skelotons to tumble out and these companies might be hit.

        Apparantly JP Associates and Infratech might be beneficiaries of loans here. Beter watch out.
        Venky (Please read watch a or before posting)

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        • #5

          #5

          Re : Impact of housing scam on real estate

          WTF is going on in our country 7 scams in 1 year CWG, 2G, Adarsh hsg, CBI, CVC, Chief Justices of India, now Central Bank ........

          I am angry and sad , cant hide my sentiments.
          Dont know when are we going to see light
          MM

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          • #6

            #6

            Re : Impact of housing scam on real estate

            Originally posted by Munish Malhautra View Post
            WTF is going on in our country 7 scams in 1 year CWG, 2G, Adarsh hsg, CBI, CVC, Chief Justices of India, now Central Bank ........

            I am angry and sad , cant hide my sentiments.
            Dont know when are we going to see light
            Jab tak SG, RG and mute MS hai tab tak to nahi dikhegi.

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            • #7

              #7

              Re : Impact of housing scam on real estate

              Originally posted by Agastya07 View Post
              Jab tak SG, RG and mute MS hai tab tak to nahi dikhegi.
              MS to thik hi tha per Munni Bdnam hui, SG, RG ke liye

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              • #8

                #8

                Re : Impact of housing scam on real estate

                None of the RE companies can be charged as they paid facilitators and did not pay bank officials. Morally , they may be wrong , but their can't be any case against an RE company for paying a facilitator who in turn bribed Bank officials.

                The fallout will be mostly for the banks which are involved. Expect some serious tanking of shares of concerned banks.

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                • #9

                  #9

                  Re : Impact of housing scam on real estate

                  Originally posted by suavedude View Post
                  None of the RE companies can be charged as they paid facilitators and did not pay bank officials. Morally , they may be wrong , but their can't be any case against an RE company for paying a facilitator who in turn bribed Bank officials.

                  The fallout will be mostly for the banks which are involved. Expect some serious tanking of shares of concerned banks.
                  Good time to buy LIC HSG shares.

                  Comment

                  • #10

                    #10

                    Re : Impact of housing scam on real estate

                    Originally posted by Agastya07 View Post
                    Good time to buy LIC HSG shares.
                    I would wait for fall below 900.
                    Venky (Please read watch a or before posting)

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