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No policy impact unless home loan rates are cut


“The impact of RBI policy on Real estate sector shall not be good until and unless the housing loan rates are reduced. In earlier times the housing loan rates used to be 7% but the prevailing rates are above 9.25%. The revision in REPO rate may have positive impact on the economy but has a negligible benefit for the real estate sector. The crux of the matter is if the housing loan rates are reduced, then it will be big relief for the home buyers, who will then show more interest in buying property and the things will start moving in the real estate market ultimately generating more employment and eventually increasing the GDP of the country. Also RBI should not consider the real estate sector in the unfavourable list but in the favourable list for the growth and development of our country.”

Mr Parveen Jain, President, NAREDCO