Four flats, penthouse on loan on an INR1.5 lakh salary! The profile-funding bubble could burst soon.

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From Delhi-NCR to Mumbai to Bengaluru, cases of profile funding, where builders make use of people’s good credit profiles to get cheaper loans, with a promise to pay EMIs on their behalf, are popping up in large numbers. The ‘buyers’ here are left with little options after builders stop paying EMIs. Are we staring at another real-estate scam?