Mortgage Loan Interest Rates Continue to Benefit Home Buyers: Real Estate Agents in RBI Policy on Friday, the real estate industry said that the real estate industry said Friday that the low home loan interest rates will continue and come back in housing demand has been helped over the past few years two months badly hit by a second wave of the COVID pandemic.
The industry called for further steps to increase liquidity. “The RBI continues to maintain a helping attitude as to everyone it is crucial to lowering the effects of the COVID pandemic,” said CREDAI President Harsh Vardhan Patodia: “Clearly change the system and instructions of the Emergency Credit Line Guarantee Scheme (ECLGS) the moment is needed for banks and other financial institutions to sanction funds for labour-intensive sectors such as real estate, “he added.
President Niranjan Hiranandani, national chairman of NAREDCO, said the RBI had left policy rates unchanged, benefiting home loan borrowers in response to the challenges of the COVID-19 pandemic, it is a boon for home loan borrowers as variable personal loan rates remain at their lowest levels in two decades, he said. Real estate status, input credit, FDI enables in RTMI (ready to move in), a one-stop-shop processing mechanism on Bund es level, and lower GST for raw materials for long-term sustainable growth of the sector. and the chief executive officer of CBRE, India, Southeast Asia, Middle East, and Africa, said RBI’s accommodating stance will help maintain homebuyer sentiment, which grew stronger before the second wave. “With the repurchase rate and the reverse repurchase rate maintained in the status quo, banks and NBFCs will continue to lend home buyers at lower rates, which will stand by in support demand in real estate,” he added.
Narok President Anuj Puri described the policy as positive for homebuyers and he also added that this low-interest scheme works even in favour of borrowers too.
Dhruv Agarwal, Group Executive Director, Housing.com, Makaan.com & Proptiger, said that RBI’s move to maintain the buyback rate is following expected lines and that the banking regulator should announce monetary support to the NHB to support growth in the real estate sector reactivate sector.
Amit Raj Jain, Head of Sales at BPTP Ltd said that the low-interest rate is a boon for people who want to buy a property and enter real estate. Piyush Bothra, the chief financial officer of real estate agent Square Yards, said the home loan interest rate will remain stable at current levels. Kaushal Agarwal, president of The Guardians Real Estate Advisory, said lending rates should continue to be cut until demand reaches pre-COVID levels.
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