Affordable Homes Got Less Recognition in Budget 2012

Hiranandani, MD of Hiranandani Group of Companies recommended buyers that “Don’t postpone buying a house. Buy one as early as you can and you will never regret it. Real Estate is a long-term opportunity and not for people who like to look at stock market figures every day,”

Moreover, the hike in interest rates is another cause of concern for the consumers because the increase in interest rates is affecting their decision of buying a house, which they have articulated on the chat forum. J C Sharma, MD, Sobha Developers on chat forum said that “The borrowers are taking loans on a floating rate basis. I strongly believe that in India, a borrower is not likely to pay an interest cost above 10 percent per annum during the life cycle of the loan period.”