Reduce interest rate on home loan would be the top priority in 2014-15 interim budget for Modi Government

Q: Hi, According to recent poll conducted by commonfloor nearly 33% of home buyers want reduction in home loan interest rate.

Shantanu Kumar, Mumbai

30th June 2014

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Replies (2)

Hi everybody,
Everything what you have mentioned above is correct but still real estate sector is looking forward to the good days ahead of them. Out of the progressive manifesto what actually will turn into a reality, only time will tell. It is a wait and watch time.

Govinda,

30th June 2014

Comment

Hi, Due to volatile property values, resident are forced to take home loan. And if we see the current interest rate of some of the major banks has crossed the 10% mark.

Kaushik Bardia,

30th June 2014

Comment

You are absolutely right,
Because of some major issue such as slowing demand and rising interest rates infrastructure projects worth Rs. 14 trillion are closed due to lack of requisite clearences. As a result it affected the investors who have put in their hard earned money in areas where major infra projects were announced.

Kunal,

30th June 2014

@Kunal,
Whereas the unending delays investors are losing their money as they cannot sell the property in reduced price while they had invested a lion’s share. Because of that about 22 % respondent felt that fast-tracking and single window clearence infrastructure projects should also be one of the top priorities for Modi’s government.

Kaushik Bardia,

30th June 2014

@Kaushik,
Here, i want to share an interesting trend that came into light from the poll is that the aam aadmi is currently interested in short-term plans rather than long-term. Nonetheless, the two major dream projects of the new government, namely 100 smart cities and ‘Housing for All’ by 2022 were voted as a priority by 16 and 15 % respondents respectively.

Kunal,

30th June 2014