Homebuyers waiting in the wings to buy a house may consider prolonging their wait for a couple of months. And that’s because of these reasons. First, after demonetization and inflow of funds into the system, most banks are expected to announce a cut in home loan interest rates.
“Very soon we may see interest rates lowered to sub 8% levels,” says Samantak Das, chief economist and national director- research, Knight Frank (India) Pvt. This can have a huge impact on homebuyers’ equated monthly instalments. Second, buyers should wait for the income tax sops announced in the next Budget. This may help them decide whether they have the wherewithal to purchase a house now.
Real estate experts also say that while the luxury and resale markets are likely to see corrections, the mid-segment housing market is likely to remain slow but stable.
Source:- Hindustan Times.
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