The Real Estate Sector Can Now Expect a Good Time in 2014

Online, January 15, 2014 (Newswire.com) - The loan rates that were going upwards earlier has now taken a downward trend with the banking majors cutting down their interest rates on home loan. The starting of the year 2014 has been quite beneficial for the real estate sector. The lower interest rates may encourage the home loan buyers to some extent as predicted by the experts.

The unsold property for Mumbai is up to 44% and that is highest amongst all major cities of India. This amounts to almost 1,30,000 units unsold against the total of 2,90,000 units under construction. The figures for Delhi NCR are quite good as its unsold property is around 26% even after double the units under construction. The income growth is already hit by recession while inflation has also slowed down the market. The affordability of the customers is also affected a lot in last year but this bold move made by the nationalised and private banks may surely remove the darkness from the real estate market.

As per the industry experts, this move has been made by the banks after almost a year and that means a lot to the real estate industry. Again another stable move by RBI is expected this year as the base rate will be fixed to keep the interest rate hike in check. This will be all and all good year for property developers as the home loan rates are not expected to further go up this year and the current moves by banks as well as Reserve Bank of India state that the rates will be lowered in due course.

The above reduction may benefit the real estate sector or not is still a debatable issue but if you are planning to buy your dream home then definitely this is the right time.

Get more updates go to :: saverable.com