Realtors from the city are expecting a boost in the business this Akshay Tritiya. Thanks to the 0.5% cut in the interest rates by the Reserve Bank of India and stagnant property prices for the last few months.
Apart from Akshay Tritiya being an auspicious day, the cut in the interest rate seems to add up to the sale of property on this occasion. Shailesh Puranik from Puranik Builders stated, “Akshay Tritiya is one of the three and half muhurat day and is considered auspicious for buying new assets. People wait for this day to make the bookings. And this time with the cut in the interest rate after three years, it is going to add to the business.” Puranik Builders have their project in Thane, Mulund, Dombivli, Neral, Lonavala and Pune.
Meanwhile, Jitendra Mehta from Mehta Realtors, Thane also believes that this is the best period to buy the property. “Not just the interest rates are reduced but also the prices of real estate have remained stagnant for the last four to six months. If the property is not booked now, then the price will once again be at peak and then it would become difficult to buy any property,” explained Mehta.
However, a real estate agent from the city Rakesh Kapoor feels that there will be hardly any business on Akshay Tritiya. “The RBI has just announced the cut, but banks have to still adopt this new change in interest rate. Also, the high property prices and the changes is loan procedure is become a hurdle in buying property,” Kapoor said.
Even the buyer feels the same. Sandeep Devan, a buyer said, “I am in hunt of a property since last one year. The rates are so high and the lengthy procedures of bank have made difficult to buy a property. Although the news of cut in interest rate has brought relief, but it will be actually good news when it is brought to implementation. Till then it’s not easy.”
Courtesy: DNA
Apart from Akshay Tritiya being an auspicious day, the cut in the interest rate seems to add up to the sale of property on this occasion. Shailesh Puranik from Puranik Builders stated, “Akshay Tritiya is one of the three and half muhurat day and is considered auspicious for buying new assets. People wait for this day to make the bookings. And this time with the cut in the interest rate after three years, it is going to add to the business.” Puranik Builders have their project in Thane, Mulund, Dombivli, Neral, Lonavala and Pune.
Meanwhile, Jitendra Mehta from Mehta Realtors, Thane also believes that this is the best period to buy the property. “Not just the interest rates are reduced but also the prices of real estate have remained stagnant for the last four to six months. If the property is not booked now, then the price will once again be at peak and then it would become difficult to buy any property,” explained Mehta.
However, a real estate agent from the city Rakesh Kapoor feels that there will be hardly any business on Akshay Tritiya. “The RBI has just announced the cut, but banks have to still adopt this new change in interest rate. Also, the high property prices and the changes is loan procedure is become a hurdle in buying property,” Kapoor said.
Even the buyer feels the same. Sandeep Devan, a buyer said, “I am in hunt of a property since last one year. The rates are so high and the lengthy procedures of bank have made difficult to buy a property. Although the news of cut in interest rate has brought relief, but it will be actually good news when it is brought to implementation. Till then it’s not easy.”
Courtesy: DNA
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