Thumbs down!Major real estate players today gave a thumbs down to the announcement by public sector banks to cap interest rates at different slabs of housing loan, saying it was not enough, though they felt the step could spur demand in smaller towns.
6% - 7.5%"For over Rs five lakh loans, we were expecting 6 per cent and between Rs 5 lakh and Rs 20 lakh we were expecting 7.5%," said Parasvnath Developers Chairman Pradeep Jain.
7-8%"Rate of interests are still very high... There will not be many takers... The rate of interest should have been around 7-8%," said DLF Group Executive Director Rajeev Talwar.
5% - 9%"We were expecting more sops from banks for the housing sector... for loans up to 50 lakh, interest rates should have been 9% and and for Rs five lakh, 5%," said Omaxe CMD Rohtas Goel.
What is your take on interest rate?What should be the rate of interest for the home loans above Rs. 20 lakh? Please, share your views in the comments! (Comments Policy)
To read more, please, visit - PSU banks cut rates on home loans up to Rs 20 lakh
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