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As per to the sources saying @ the www.propertykhazana.com, residence purchasers have a good news ahead, as the realty developers are in plans to trim down the housing loans rates, even though the banks are uncertain to on dropping their loan rates. As RBI announcing of 155 bsp cut down in CRR. From couple of years, in this segment demand has plunge for about 30-40% and developers are working out to retain the demand by lessening their lending rates. Indian cities had a realty blast from the past 4-5 years, after the slowdown and land rates fell down by 16% mainly in the rapid growing metros cities like Bangalore, Pune, Mumbai and New Delhi.
According to the sources available with www.propertykhazana.com, total loan outstanding with various realty ventures set at Rs. 3,000 Crores. But, bankers felt that the cut down in CRR may hike liquidity which will be used to improve the extension of loans to this segment.
United Bank of India’s officer said that, we have short term floating loan expenditures on realty ventures. Confederation of Realty Developers Association of India chief said to www.propertykhazana.com that, “Banks are lending funds to realty segment only after venture is approved and construction begins. So, it is to be observed whether cut down in CRR will have an upbeat effect on the segment.” Indian realty market has experienced the bad hold back in the past is likely to ride the murk during the festive seasons. For more and latest updates browse www.propertykhazana.com.
Source: NBTVLIVE

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