Impact Of NBFCs On Real Estate

 


Owning a property is a very big deal, whether it is for residential purpose or commercial purposes. A piece of the property ensures financial security in a person’s life. However, not every man can afford to buy a property with cash in hand, which is why they choose to opt for bank loans. But, here’s a twist, banks strictly scrutinise your credit score, and what if your credit score is low? This is where NBFCs come in. Let us get into details of what NBFCs are and how they can help you with finances.

What Are NBFCs?

NBFCs are Non-Banking Financial companies that provide financial support and other banking facilities but without coming under a legal classification of a bank. These institutes have their policies a bit more relaxed than the bank with regards to low or zero credit scores. These financial institutes are registered under the Companies Act, 1956 and they engage in the business of providing banking services such as advancements of loan, acquisition of shares, stock, bonds, debentures, credit facilities, marketable securities such as leasing, insurance, retirement plans, etc.

We at Saya Gold Avenue, not only provide our customers with their dream properties, but we also help them in taking necessary steps towards their dream houses. At, Saya Gold Avenue dispute free NBCF contact details are available so that there is no exploitation or fraudulent practices.

NBFCs In Indian Economy

As said earlier, banks scrutinise the credit score keenly, thus leaving a lot of people and small business sans financial support. NBFC provides financial support to the people in need and small business ventures so that they can grow and contribute to the nation’s economy. NBFCs have become one of the leading money lenders in real estate because of the huge population and its rising demand for properties.

NBFCs And Real Estate

Since NBFCs mostly provide funds to projects related to infrastructure, their contribution to the Indian real estate industry is huge. Real estate is at its peak because of people trying to mobilize from place to place, and this leads to a rise in demand for properties (both commercial and residential), and this leads to people seeking financial help. As a result, from 2016 to 2018, the borrowings from these institutes have grown up to 50%.

NBFCs may not be registered banks, nevertheless, they are great and trustworthy alternatives to procure loans from and seek financial aid.

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