Real estate
developers dropped the commitment, while rapid changes are seen in the real
estate sector, hiking the key policy rate of Reserve Bank of India will
increase the property sales in the housing sector. The rate of key policy just
by 0.25% to 8% raised by RBI in a proposal to curb inflation, a change may change
into higher EMIs and push up the price of borrowing for the corporate. Realty
firms estimated, nevertheless this would be the last round of financial
tightening by the central bank.
We are very dissatisfied.
It has made the developers community unhappy and dissatisfied, “Confederation
of real estate developers association of India chairman Lalit Kumar Jain stated
to PTI.” It seems the property market will see its bottommost in terms of sales
and liquidness. There may be applied an effort to resuscitate the economy and
property market in a forceful manner. In addition, the developers would look
forward to the March review.
The chairman
of Parsvanth developers, Pradeep Jain said, “It is extremely disappointing step
taken by the RBI to raise repo rate. It is not going to help RBI control
inflation any more. This step has taken by RBI would inspire the Banks to
increase their lending rates. The
chairman of Amrapali group, Anil Sharma said that, there is very slow movement
in the property market and whole the economy. Thus, there would not be much adversative
influence on the sales.
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