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Tier II and III has most benefits of rate cuts

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The new reformed slab of the rate cuts has definitely increased the possibilities in all the metros and more in the tier II and tier III cities. According to the sources of www.propertykhazana.com around 79 percent of the total loan applicants in this tier II and tier III cities apply for the loan fraction of with in Rs 20 lakhs for their requirement of housing. It makes a great earning to the state and private owned banks every fiscal year.
On a short note with the CMD of National Building Construction Corporation limited – Arup Roy Choudhury has revealed that “now the million dollar question is that – is it possible to provide budget housing by the builders”. Explaining his own question he states that now it has become mere impossible to provide the earlier brand of Rs 5 lakhs housing as the rate of the land has almost touched the sky at major locations of the country, specially in the metros and similar conditions in other tier II cities. As per the sources of www.propertykhazana.com it is also been noted that the NBCC is planning programs with more affordable units at the locations of NCR region, Kolkata, Kochi and Vizag ranging from Rs 5 lakhs to Rs 20 lakhs.
The planning commission of India also has notified that the country is still running sort of the housing units with 24.2 million in urban India where 98 percent fall under the low income or economically weaker section of the society. R. R Singh of NAREDCO states that “there will be availability of budget homes but the paying capacity of this group is very doubtable and hence will further give rise to higher numbers of realty stores for the sole requirement of this group. For more updates visit www.propertykhazana.com.
Source: NBTVLIVE

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