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Major Indian Realtors meets RBI Chief

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The realty segment envoys met RBI officers to kick off the troubles faced by the cash-starved segment and RBI Chief and senior officers were met by the key realtors. Chairman and Managing Director of Ajmera Group said to the www.propertykhazana.com that, “We asked the RBI to form a setting, where banks consider realty level with other industries and not to separate and look realtors as deportees. The realty segment is forced to borrow from banks at additional 3% higher rates than other industries. There were three issues on which realty developers wanted the attention of the RBI and first offer we made on bringing the initial deposit for residence purchasers down to the amount what was asked for in the recent years.”
He also said that, “We recommended that the down payments for housing loans must be taken to 10-15% levels rather than the current 30%. And we recommended that the bar for yielding housing loans must be hiked for Rs. 35 Lakhs to help reasonable residential in the country.” Even if the RBI had declined main rates, it had provided modest reduces of the misery of the segment. RBI Governor said to the www.propertykhazana.com that, “RBI will go through their demands and banks are not just lending sufficient to realty. And cost of funds is still soaring, despite of the present rates declinations that have been comprised in the spur package.” For more and latest real estate news browse www.propertykhazana.com.
Source: NBTVLIVE

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