Wishing everyone a Merry Christmas and a Happy New Year.
Post demonetization, banks will cut lending rates which is going to have a huge impact on the real estate industry. The affordable housing will witness a huge demand as the salaried class people will get homes loans at a cheaper rate.
Media reports have quoted the Reserve Bank of India saying that banks have collected deposits of nearly Rs 5.4 lakh crore between November 10 and 18, while they disbursed only about Rs 1 lakh crore.
As a result of this surplus liquidity, many banks have already brought down deposit rates by 15 to 25 basis points in a bid to increase lending. Some economic analysts further expect a reduction of 50-75 bps in lending rates in the next four to five months’ time.
Demonetization will also clean up the real estate and, together with RERA, may weed out the element of black money from the sector which will make the sector very transparent.
There has been a year end cheer for real estate market. The government has been very proactive and has taken measures to make the industry transparent and fulfill its vision for “Housing for all”
Be it demonetization or introduction of Real Estate Regulation Authority (RERA) bill, will definitely bring a cheer in the property market. The measures will make the market transparent and will make the end users secure as well. The bill will reduce litigation and will speed up delivery of the projects which will result in timely possession.
Year end cheer is a hope which we believe that the government will be successful in implementing in future.
Panache is one of our most prestigious residential condo projects till date, a resplendent rendezvous on the water’s edge in ‘happening’ Sector V, Salt Lake. The project elevation is designed to exude positive and uplifting feel. It is connected to all key conveniences like markets and malls, educational institutions and hospitals,hotels, restaurants and amusement parks.
Since our prime minister has announced scrapping of Rs 500 and Rs 1000 notes, there has come a new word “demonetization”. There has been a lot of news of how demonetization will impact real estate market.
Demonetization will lead to reduction of bank rates and housing rates and we expect home loans to be available at around 8 to 8.25% in the months.” With the reduction of homes loans, there will be an increase in the demand of properties and the market will witness transactions happening in the real estate market. The impact of demonetization will lead to a lot of demand in the affordable and mid suburban segment.
This is a transition phase but I feel the future is bright for the real estate market.