Builders acknowledge RBI decision of rate cut
Maharashtra Chamber of Housing Industry thinks commercial banks should cut interest rates so that home loans will become affordable.
The cost of real estate properties were higher because of high cost of funding.
The builders association also welcomed the RBI decision to scrap pre-closure of loans. It is a wise decision for a stagnating economy as this will enhance the fresh investments for real estate in India.
The builders and developers are expecting to witness some pickup in the volume of sales transactions in near future as home loan borrowings will be affordable after this rate cut.
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RBI further puts new bracket in home loans
Source: The Hindu Business Line
Builders Association, commercial banks, cost of funding, cost of real estate properties, home loan, Interest rates, Maharashtra Chamber of Housing Industry, pre-closure of loans, RBI, Real estate in India, Reserve Bank of India, sales transactions
