Housing sales fall by 16% in 2012, new launches plummet by 30%
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The consultant said the housing loans disbursed by banks have consistently grown in double digits since July-2010, but growth momentum has tapered off alarmingly since June 2012. "High residential real estate prices along with relatively high mortgage rates have led to this downfall."
Similar is the fate of the commercial real estate sector. Banks' credit exposure to developers has fallen from its peak growth rate of 23.21 per cent in June 2011 to 3.88 per cent as per the latest reported data on September 2012.
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