Housing Loan To Get Cheaper in India!

Bharat Prajapati By Bharat Prajapati, 18th Feb 2011 | Follow this author | RSS Feed | Short URL http://nut.bz/20tj_fkc/
Posted in Wikinut>Money>Loans

As said by the chairmen of RBI that the housing loan is going to get cheaper in the coming year. Indeed for nearly a leap year, reality prices have been on decline from 10 -15 percent in India since January 2008. Guess what, according to the industry analysts, about 20-25 percent of change in price would about to be seen in next 12-15 months due to the fall of market which will create a nonadjustable atmosphere this year.

Housing Loan To Get Cheaper in India!

As said by the chairmen of RBI that the housing loan is going to get cheaper in the coming year. Indeed for nearly a leap year, reality prices have been on decline from 10 -15 percent in India since January 2008. Guess what, according to the industry analysts, about 20-25 percent of change in price would about to be seen in next 12-15 months due to the fall of market which will create a nonadjustable atmosphere this year. May be, the good days can come again when we are well into 2010. There may be a fall in price of the commercial property. The space-needy retail industry could have a chance to increase their vacancies leading to further correction in lease rental.

Is Housing Loan Affordable?
The fact is that developers too are realizing that people are seeking affordable housing. The demand is diverting towards it, rather than current value. Believe it or not, analysts actually have a technical formula to define this! If, the experts say, the price of a property is around five times the average annual salary of residents in that region, then the house is considered ‘affordable’. “And if the rush for MHADA flats and houses Tanaji Malsure City in Karjat is any indication, then 2009 year will sure turn out to be the year of affordable housing,” says Sameer Panke, a real estate analyst with Dolat Capital Services. “Affordable housing can only become a reality if the government takes proactive steps to fund them, as most builders have already burnt their fingers accumulating land at higher prices.” yet there is a possibility for economic to say that year 2009 will be the year of cheap housing!

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