Pune Home Buyers Hassled by EMIs for Home Loans
The real estate sector in Pune is beginning to show serious signs of strain under the combined weight of increasing cost of construction, astronomical mortgage rates and a generally uncertain economic climate. Inflation has also contributed to a decrease in affordability of residential properties.
In 2011, prices had increased by between 4-5 % in many locations of Pune, and may rise further towards the end of the year.With housing loan interest rates rising ever so often, customers face difficulties in EMI payments. Since the EMIs are now payable over a longer period, cases of people defaulting on payments may also rise.
Pankaj Mandhana has been looking for a house, but has not been able to buy one. Each time he gets ready to sign a deal with a developer, there is an upward revision in the realty rates. “I have had to postpone the decision thrice in the last year as all calculations go haywire with a change in the rate of interest and the prices quoted by builders,” he said.
Builders, Change in the rate of interest, EMI payments, EMIs, home buyers, Home loans, Interest rate, Pune, Pune Home Buyers, Real estate sector in Pune, Realty News, Residential properties
