Summary:
Bosky Khanna ByExpress News ServiceBENGALURU: Here is another indicator to the ongoing economic slowdown biting the real estate sector hard. Whereas 166 applications were received for high rise buildings last year, it has been just 60 this year (till November). Confederation of Real Estate Developers Association of India (Credai)-Bengaluru Managing Director Kishore Jain said there is no growth in the residential real estate market. The crises non-banking financial companies (NBFC) are facing and the liquidity crush have also had an effect on real estate, he said. Jain added that real estate has a direct link with the commercial growth of the city..