Developers Mumbai Hope Apartment Sales to pick up this Festive Season
No Comments Sub Category:Community,Realty News Posted On: Sep 17, 2011
Pranay Vakil the chairman of real estate consultants of Knight Frank reported saying that the borrowers will have to accommodate the increased EMI by expanding the loan repayment period within a year. However the majority of the borrowers may not be able to do so and would face a tough time paying a high EMI with every purchase of home loan from now onward. Boman R Irani the chairman and managing director of the Rustomjee Group reported saying that the increasing cost of steel and cement is being pressured on the profitability of the developers. The Policymakers and the RBI have to take interest to check the insufficiency in the infrastructures.
EMIs work outs is said to be happening with the recovery of the interest and also with the calculation with the principal amount.
The Maharashtra Chamber of Housing Industry (MCHI) informed saying that the latest increase will show a major drop down in the flat sales due to the rising input costs. MCHI president Paras Gundecha reported saying that the public has been burdened with an constant increase in the cost of living. Banks are yet to consider the stretching of loan tenures before the effect is burdened on the interest rates.
Source: The Times of India
Tags:
Interest rate, Real estate consultants Knight Frank, Rustomjee Group, The Maharashtra Chamber of Housing Industry
