The RBI’s move to make city-wise
classification of affordable housing and periodically review its definition is
a significant step forward in boosting the real estate sector. The increase in
cap of affordable housing eligible for loan under priority sector was
imperative considering the rising prices of homes in the last few years.
Home buyers can now avail loans easily and at a lower interest rate. As a result
of this, a rise in demand of affordable housing is imminent thereby leading to
more developers focusing on affordable housing segment and creating varied
choice and ample supply in this segment. In the next 9-12 months, inflation is
expected to be reigned in and interest rates are also expected southbound
should benefit a lot of home buyers and reduce their EMI burden.
The RBI’s move coupled with the
Government's various tax benefits in Budget will spur demand in real estate and
as a result help realize Government’s vision of housing for all by 2022.
Omaxe has been operating at these price
points in 30 cities and with RBI's impetus, we plan for an aggressive expansion
of existing projects. Our offerings in these cities vary from townships,
residential complexes and commercial. With plots, floors, villas, group housing
etc to choose from in residential segment, Omaxe's first mover advantage into
tier II and III cities almost a decade ago will further get a stamp of enhanced
desirability in these cities.
- Mr. Mohit Goel, CEO,
Omaxe Ltd.
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