Builders in the top 8 Indian cities owe banks and NBFCs Rs 4 lakh cr even as their total sales each year are worth just Rs 2.47 lakh cr. It is expected to take seven years to clear the outstanding amount based on the current rate of earnings per year. The annual EMI on this total loan is itself Rs 1.28 lakh cr.from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News http://bit.ly/2WIVWH0
