The smile is back on builders’ faces
The Hindu
After the impact of the second wave of COVID-19, recovery in the real estate segment has been encouraging
Activity in the real estate segment is an indicator of economic growth. After being battered by the second wave of COVID-19 that had brought the segment to a standstill, the recovery has been encouraging. Project launches, enquiries and sales have brought the smile back on builders’ faces. The RBI has been holding the rates, refraining from making any changes. The repo rate continues to be comfortable at 4%. It is the rate at which banks borrow for the short term from RBI and also is the benchmark for deposit and subsequent lending rates. The home loan rates are ruling at a decade low of 6.60% to 7.00% across key lenders. On a loan of ₹25 lakh for a period of 20 years at 6.70% interest rate, the EMI would be ₹19,000.
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