Repo Rate Cut: A Perfect Start to a New Financial Year
Anuj Puri, Chairman - ANAROCK Property Consultants
As hoped for, the RBI has reduced the repo rate by another 25 basis points.
Back-to-back repo rate cuts by the RBI are indeed the perfect start to a new financial year, resulting in overall reduction of 50 basis points since February 2019.
The repo rate now stands at 6% - returning to the same level as in April 2018. This will augur well for the Indian real estate sector and keep the momentum going in the coming year.
As it is, the sector already saw an uplift in homebuyer sentiment due to the multiple sops offered by both the Government and the RBI in just the first three months of 2019.
These measures have contributed to a 12% increase in housing sales in Q1 2019 across the top 7 cities.
The RBI has done its part by slashing the repo rates. The onus is now on the banks to concurrently reduce home loan rates further, thereby encouraging more fence-sitters to take purchase decisions and giving another boost to the real estate sector.
ba eng hons in pk roy
5yAwesome
Business Head
5yThis may still take time & efforts to bring back the lost glory on the Real Estate sector, across India... Dropping Interest rate on home loans by 0.5% will surely not have much impact.... While you all see the calculation of EMI's paid is 9:1 ratio . For the first five years banks deduct interest rate... which is huge... many customers feel pinch evaluating total amount paid towards interest Vs principle.... actual calculation shown by Bank to the customer is misleading..... There is a big disconnect.... Now the trend says ... don't own a house ... just take on rent.....& enjoy life as it is.... As there is lot of uncertainty in stable jobs, businesses......
UI / UX Designer, Front End Designer, Website Designer India
5yI don't found any impact on my loan after reducing repo rate. Even my bank ICICI has increased my loan by 0.5%. There should be a way so that all banks should have the same interest rate.
Branding Consultant - Northeastern Region Market
5yHonestly speaking, banking is too technical for me but I would be more happy if the LPCs on my credit card bills are reduced!
Independent SEO Consultant $$ Hired by Top Ai Companies in Ahmedabad and SaaS and Mobile app based micro SaaS Startups | Call me at 84013 26950 for ASO and Digital Marketing Consulting, Marketing Strategy & Double ROI.
5yRBI and Banks Making fool by reducing Pricing, I have taken Loan in 2016 at the percentage of 8.65 and Now this February I Received a Message from #icicibank, they have increased the Percentage of 9.25. For me, it seems like a political game to win elections and after 2 year again banks will increase the interest rate.