Are construction-linked home loan schemes responsible for the present crisis in the housing sector in India? Well from the face of it that appears to be the case; there is a bizarre trend seen across metropolitan cities and even Tier II and Tier III cities of builders dumping projects after having received around 90 per cent of the payment from home buyers.

Across the skyline of various cities, incomplete towers stand out as eyesores, pointing to the sad state of affairs in the realty sector even as lakhs of home buyers who have put in their savings and are paying huge monthly instalments, along with rents, await the delivery of their dream homes. Protest by many of these residents in the National Capital Region as also other parts of the country exemplify their frustration with the system.

As per a property research firm, Liases Foras, over half the real estate projects across the country are currently delayed by over 12 months and another 25 per cent by over 36 months.