Home sales to increase 20%: CREDAI
Developers’ body Confederation of Real Estate Developers’ Associations of India (CREDAI) has expressed hopes that housing sales are expected to improve by about 20 percent in major cities during the festival season.
The main propellant has been identified as the marginal fall in interest rate on home loans. Buyers waiting for last two years to buy homes have been offered an incentive to purchase properties as interest rates on home loans have come down.
The banks and housing finance companies have cut their home loan interest rates by about a percentage point. Also, there is a signal that some banks have also decided to increase the term of loan to 30 years from 20 years.
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