Q:Realty sector welcomes home loan rate cuts by SBI, HDFC ...Welcoming the 0.25 per cent rate cut by two of the biggest home loan financiers SBI and HDFC, realty sector participants today said the move will help revive interest in the gloomy market. "This is a positive move to boost property sales and spur industry growth. Home buyers who were earlier waiting for rates to come down will now certainly look at buying their dream homes," industry body Confederation of Real Estate Developers Association of India (Credai) Chairman Lalit Kumar Jain said. "The home loan rate cuts from certain banks have occurred after nearly a year, and will augur well for investment sentiments in the market," property consultant CBRE South Asia's Chairman and Managing Director Anshuman Magazine said. It may be noted that the residential sector had suffered a major set back due to increasing home loan rates, which had forced buyers to postpone their home buying decision. Magazine also welcom
Q:The real estate market may be going through a rough patch, but developers still seem to be betting big on the high-end residential projects. In the first nine months of this calendar year, the number of launches in the high-end residential segment has grown by 142 per cent as compared to the corresponding period last year, says a note by real estate consultancy Cushman & Wakefield (C&W). The number of new launches in the high-end segment stood at 24,032 between January and September as against 9,940 last year.The stupendous rise in new launches in this segment is happening at a time when the overall launch of new inventory across all housing segments remains muted. As per C&W, in January-to-September period, residential units launched in all segments put together - affordable, mid-market, high end and luxury - was a meagre five per cent. According to market experts, low demand is forcing developers to go slow on introducing new projects.
