Rbi Rate Cut To Boost Housing Sales – Time To Own Your Dream Abode At The Hemisphere This Festival

By Author: The Hemisphere
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The decision to cut the benchmark repo rate by 25 basis points could not have come at a more appropriate time. The Indian economy is at a point of inflection. Easing procedural bottlenecks, speedier project clearances and reviving credit flows to the productive sectors such as real estate are critical for the economy to decisively move to a higher growth trajectory. Another small rate cut in the coming months should not be ruled out. Hence, going for a home loan on long term will be made easy, facilitating the move to own a home. This is a welcome move just before the festival season and will help boost sales, with the pent up demand fructifying.

Banks are likely to pass on the benefits to customers and the government is poised to enforce and instruct banks to do so. The real estate sector had faced a multi-year slowdown, particularly in residential segment. The sales have been hit further post demonetization and the cut was much awaited and will fuel demand. The rate cut announced coupled with commensurate benefits for borrowers will impact home loan rate positively and enhance the consumer sentiment- setting in motion ...
... a virtuous cycle.

The RBI decision to cut repo rate by 25 basis points to 6 per cent - a 7 year low - is in line with industry expectations amidst low inflationary trends. This cut will result in making housing loans cheaper and help credit offtake in the housing sector. The decision, along with the new real estate law and GST, would provide further impetus to the segment and help in rejuvenating housing sales- and will see large scale buying from people who were waiting on the fence.

The central bank has adopted a monetary policy that propels economic growth, which in turn would boost the Indian real estate. There is surplus liquidity in the system and the policy change might result in a greater impact on real estate sentiment. The property prices affects buying decision more than interest rates and home prices are unlikely to reduce further. RBI's policy is positive for the real estate sector. With the rate cut prior to start of festival season, the sluggishness in the real estate sector would come to an end. The rate cut as a positive step that will indeed help boost housing demand.

The rate cut will only add more weight to the sentiments and push the customers to move towards investments where real estate sector will greatly benefit. As GST is settling down and RERA gaining momentum, real estate sector is projected to become the investment hub very soon. It will boost sales as EMIs on home loans are expected to come down. Final festive season of this calendar year is nearing and this rate cut can allow the banks to cut down on their lending rates further. The move will have a direct impact and help revive sectors like real estate which are highly sensitive to interest rate movements. In fact, there is scope for banks to cut lending rate further given the liquidity situation prevailing in the market post demonetization.

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