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RBI says no high intrest impose on housing loans

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As per the sources available to www.propertykhazana.com, bankers detached the needs of any further rise in interest rates on housing loans as price of growth of credit appears to be amended. Govt. is taking strict steps to manage high demand in realty market and home segments, while banks are attempting to follow the presence orders to hold the growth of credit in home segment, said K Raghuraman, Executive Director of Punjab National Bank to the www.propertykhazana.com. Industry forecasters also shared the similar view with bankers not to hike prices on home loans but bankers move followed the report given by the fiscal minister P. Chidambaram about the Govt.’s aim to cut demand in housing loans and booming land market. If any restraints in outer environment, it may hike interest rates again.
Sources revealed at www.propertykhazana.com is that the wholesale rates band price raises went down in 7th week in a row to 4.80% through the week ended on June 2nd. But, rate of interest was revealing stabilization presently, still there might result a trivial hike after 2-3 months. Investors were not revealing lively contribution and there appear to be no trend existing to borrow fund for purchasing 3rd or 4th residence, said Deepak Parekh, Chairman of HDFC Bank. On the other side, ICICI India’s biggest private sector bank has other reasons to bar stabilization phase for interest rates on housing loans following the issues like low inflation and high liquidity in market.
Source: NIMMA BENGALURU

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