I have been tuning into to CNBC India now and then and i know its pretty gloomy but this article is saying property developers are being serverly squeezed by the credit crisis and are facing massive cash shortfalls for which they are being forced to find alternative funding at rates of 35 to 50%!! Bank rates are 18-20%!!

http://economictimes.indiatimes.com/Real_e...how/3130151.cms