Housing finace demand has been severely damaged due to the mounting interest according to the National Housing Bank (NHB). “Prior to slowdown in global market housing finance has 25percent growth per year for consecutive four years” NHB Chairman and Managing Director R V Verma told in media conclave of the 26th Skoch Summit here.
As per the reports in the current fiscal year 2011 demand for housing loan increased by the 16prcent for Rs. 62K Cr. which directly indicates the downturn. Even though when recovery progress began in the previous year growth rate was 19percent.
According to the sector watcher “if interest will continuously increase in the near future then it will surely damage the housing finance demand.”
RBI raised key interest rates in May this year by 50 basis points to battle high inflation, its ninth rate hike since March, 2010.
Whereas NHB has raised its prime lending rates to 10.5 per cent from 10.25 per cent three months back and has no plans to further hike rates, official said.
Posted: 04 Jun 2011 05:28 AM PDT
paypal Account -Paypal never share your financial information with some one Paypal has more then 232 million Paypal accounts and the Pay pal service is available more then 10,000 online stores.
ReplyDelete