Property – Page 6 – FindMyProperty

Due to Demonetisation there are lots of question arising in mind of homebuyers, whether property price will be down or not? Home loans interest rate will increase or decrease in upcoming year and many more. According to today’s scenario some builders are assuming that real estate sector is driven by sentiments rather than reality. It may be possible due to demonetisation, for short period of time real estate market will go down but for long term there will be not affect. For coming 2-3 months property prices may be decrease, you can say this sector is in holiday now. But it will take 6 months to get things settle down. There will be huge change in terms of property price as well as in home loan interest rate.

If customers are waiting to see property price will fall then they should know the truth behind the Demonetisation impact at residential and commercial property. A small developer group said to ET (economic times) that currency recall will help to cut home loan interest rates and drive good sales. This is actually a good move by the government and we do not see any negative impact on the real estate industry.

There is no correction in housing prices in the primary market, demonetisation as rates are already at the lowest level. The Primary market is supported by banks and financial associations which are all regular entities. Such as cash factor is not a basic element of the essential market. Consequently, Credai denies opposing effect on the primary real estate sector arising out of demonetisation.

Government decided to abolish black money and corruption is in the interest of the common man as well as business and industry.

Home loan rates are coming down from the present interest rate of 9.25 percent to less than 7 percent in less than one year from now. This would bring down the EMI for a ultimate consumer.

In other words, the demonetisation would put more money into the pocket of home buyers through lower taxation rate and incentives for home possession.