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- SBI Chief - Positive about the Real Estate
In a recent development after the increase of home loan rate by 1%(by Private Sector Banks), Mr O.P.Bhatt, Chairman State Bank Of India said that this will certainly put an affect on the demand for credit. According to him home loan rates will certainly effect the demand for credit but it will not affect the demand for buying homes.
"We have just increased rates and the impact will come over the next few weeks. Though housing loan demand will dip, people will still continue to buy houses," State Bank of India chairman O P Bhatt told TOI.
Now people will not buy apartments with all the luxurious features, rather they will opt a flat with some less features and in all cost them alot less. But the demand for buying houses will be still there without any affect of increase of home loan rates.
"Experts are predicting that this move wont effect the Indian Real Estate rather it will effect the Credit Sector."
Lets see What happens next?CommentQuote0Flag