Instead of government forcing the state owned banks to reduce home loan interest rates they should have forced builders to reduce the rates or atleast leave the interest rates to the banks. Inflated artificial real estate prices not going to help any economy and that too with poor infrastructure...

Becasue of the boom for last years People borrowed money from banks and gave it to builders. Now salaried people's disposable income has come down affecting every business and the economy.

Daily wages labourers, bank home loan agents should know the pain more than any one who bought the house and cannot pay EMI.

Builders should reduce prices by 40% and go back to 2004 levels and people should start buying houses with in their salary limit atleast for this daily wage workers and to keep the economy moving....
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