Reduce Interest Rate On

Home Loan: Commonfloor

Poll
Nearly 33 per cent of home buyers want reduction in home loan interest
rate to be the top priority for Modi Government amongst its stated goals,
reveals a recent poll conducted by CommonFloorcom
!pna ghar is a dream nurtured by almost every individual. However, due to soaring
property values, denizens are forced to take the home loan route. And if we see the
current interest rate of some of the major banks, unfortunately it has crossed the 10
per cent mark. !onsider the table below".
However, as per a recent poll conducted by !ommon#loor, nearly $$ per cent of the
respondents want the interest on home loans to be reduced. %his was voted as the
top priority over other points that were echoed in &'(s election manifesto such as
fast)tracking infrastructure projects, 100 smart cities, housing for all and a few
others.
*educe interest rate on home loan+ !ommon#loor (oll
,wing to economic malaise, slowing demand and rising interest rates, infrastructure
projects worth *s 1- trillion are stalled due to lack of re.uisite clearances. %his has
adversely affected the investors who have put in their hard)earned money in areas
where major infra)projects were announced. /ue to unending delays, investors are
losing their money as they cannot sell the property in reduced price while they had
invested a lion0s share. #urther, they are not optimistic about the future prospects of
that area as construction of those infra)projects are far from being a reality. %hus,
about 11 per cent respondent felt that fast)tracking infrastructure projects should
also be one of the top priorities for 2odi0s government.
An interesting trend that came into light from the poll is that the aam aadmi is
currently vying short)term plans rather than long)term. 3onetheless, the two major
dream projects of the new government, namely 100 smart cities and 4Housing for
All0 by 1011 were voted as a priority by 15 and 16 per cent respondents
respectively.
7ast but certainly not the least, the ambitious /iamond 8uadrilateral (roject, which
aims to connect the major cities via bullet trains got just 1- per cent votes. Albeit a
long)term project again, but ignorance about the project could also be a plausible
reason.
9ith Abki &aar 2odi :arkaar, real estate sector is looking forward to the 4good days
ahead of them0. ,ut of the progressive manifesto what actually will turn into a
reality, only time will tell. Having said this, we just hope that gradually after the
economy recovers, interest rate on home loans should definitely be worked upon.
Name of Bank Amount of Loan Rate of Interest
:tate &ank of ;ndia <pto *s =6 lakh 10.16>
Above *s =6 lakh 10.$0>
!anara &ank <pto *s =6 lakh 10.10>
Above *s =6 lakh 10.-6>
;ndian &ank <pto *s =6 lakh 10.16>
Above *s =6 lakh 10.60>
!entral &ank of ;ndia <pto *s =6 lakh 10.16>
Above *s =6 lakh 10.60>
,riental &ank ,f
!ommerce
<pto *s =6 lakh 10.16>
Above *s =6 lakh 10.=6>
A?is &ank <pto *s =6 lakh 10.16>
Above *s =6 lakh 10.60>
&ank of ;ndia <pto *s =6 lakh 10.10>
Above *s =6 lakh 10.-6>
(unjab and :ind &ank <pto *s =6 lakh 10.=6>
Above *s =6 lakh 11>
"able #$Current #nterest %ates of Few &eading 'an(s, compiled by CommonFloor
Source+ !ommon#loor.com
#or 7atest <pdates on *eal @state <pdates, (roperty 3ews and !ities
;nfrastructure /evelopments Aisit+ http+BBwww.commonfloor.comBguide
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