Affordable Housing Is very Cheaper, Thanks to RBI

Sentiments across the realty sector reverberated in unison that implementation is very important key for the affordable budget proposed by The Finance Minister in this month. Just days after the budget day, RBI has taken very important step to implement, very influencing factor- Affordable Housing. Affordable housing has been considered as the basic requirement of the hour by all the property buyers and stakeholders of the realty sector from time long-established, finally signals of reasonable housing becoming a reality in the country has begun to show.

For a large number of populace, after the budget 2014 recently announcing measures to make housing more affordable, very important step towards rapid implementation of the same has been taken. On Tuesday, 15^th July 2014, The Reserve Bank of India recently announced a series of measures, which would push the schema of the affordable housing for all by 2022. As per the norms of Banks, The Banks can give long term bonds with a seven years period to raise the possible resources for lending the long term projects in the reasonable housing and infrastructure. Additionally, RBI has proposed that to small value loans, single home loans up to 50 lakh and loans up to 40 lakh in other centers will be measured as affordable housing.

These two measures together would push rapid development of affordable housing. This will help leading developers to mobilize cheaper finance for rapid development of affordable housing and would result to reduce the prices for housing in long term period. It has been observed that rates of home loan will be dropped down because of this rapid movement. Therefore, Property In India is easily available for various investment purposes. And making the investment is very appreciated and prosperous.