We are witnessing the verbal slugfest among the
government and the Opposition as well as the woes of the common man who has
been a victim of hardship ever since the Modi government scrapped the higher
denominations of the currency notes (Rs 500 and Rs 1,000).
Here, the banks are poised to reap the benefits in
many ways. Compared to other gains, lenders are set to see their CASA(current
account and savings account) ratio improve substantially with minimal effort
giving them enough room to make borrowing cheaper.
Lately, nothing has changed here. As far as the
interest of people to buy homes or to locate a property still continues to be
very good enough. But of course, it’s a wait and watch period for the time
being.
You must always know that whenever there is a talk
about property prices or interest rates coming down, every buyer waits. We
don't think property prices are going to crash, but having said that, most of
the loans today are on a variable rate basis depending upon the lenders. So,
even if the rates do come down after a couple months, the customers still get
the benefit of it.
So, we assume it is a short-term phenomenon. Our
need, our requirement, our (housing) shortage is inclined very much that people
will not wait more than 3-4 months before they start rushing back to it.
As the RBI cuts interest rates, and if you are looking
to settle at a permanent residence to live in for a longer time, then there is
no time better than today. Seeing the population of our country and the rate at
which urbanization is happening if you were going to be a real user of the
property, then you should never ever put back your decision by years. As far as
the situation speaks, we are convinced that the middle
income and the lower income India has a long way to go, the sooner you buy the
property the sooner you save your rent for the better.
