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Consumers in dilemma with frequent increase in housing loan intrest rates

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Having an own residence has become a daydream because of hiking in interest rates on housing loans very frequently. It is like going through the rooftop in future following the growing Cash Reserve Ratio (CRR) and Repo Rates and the enduring interest rate on housing loan is 11%. The information available at the www.propertykhazana.com clarified that several banks comprising ICICI bank and YES Bank, India’s new age private sector banks are rising housing loans by 1% and next is the HDFC Bank and IndusInd Bank which are expecting to follow suit. Sky-scraping EMIs and low liquidity might lead to a drop down in land prices while the potential purchasers are thinking about to holdup their verdict to purchase a residence, said the market analyzer.
It is revealed by a source at the www.propertykhazana.com that the state which is bearing the most because of increase in housing loan prices is Punjab; also it is already suffering vagueness following the government change. New Govt. has not appeared with its purposes yet, but has joined with hiking EMIs and lessening liquidity has generated a nervous condition in realty market. As land prices in Zirakpur are dropping because of its bad infrastructure, Mohali satellite township of Chandigarh is facing over supply. Northern sectors of Chandigarh are not observing a sliding sway. Certainly, price rises is on high which is incessantly placing the twist on middle income purchasers. People who have already bought residences and cars are expected to meet their obligation by clearing a part of their investments.
Source: NIMMA BENGALURU

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