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House Demand, Homebuyers’ Affordability to Improve With RBI Rate Cut

June 08, 2019

House Demand, Homebuyers’ Affordability to Improve With RBI Rate Cut

The real estate sector has welcomed the central bank’s decision to slash the interest rates for the third time this year by 0.25%. Industry stakeholders believe that it will and lower home loan EMIs.

Chairman of National Council on Affordable Housing, ASSOCHAM Pradeep Aggarwal said that the rate cut will give a big push to the affordable housing segment and allow first time home borrowers to benefit from the various subsidies under Pradhan Mantri Awas Yojana (PMAY). The NBFCs which are currently facing a liquidity crisis are also expected to benefit from the move as the inflow of funds will increase to provide financial stability.

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