A Relief To Consumers
Surendra Hiranandani, Chairman and Managing Director, House of Hiranandani
The moratorium on housing EMI’s and deferment of interest payments by another three months will give a lot of relief to consumers as they can now rearrange their finances. Another repo cut by 40 basis points to 4% is also a welcome move and with the cost of funds coming down for banks now, borrowers will stand to gain as the EMIs on their home loan are expected to fall. This is another big announcement which will ease liquidity for developers. However, quick transmission will be key to the huge liquidity infused by RBI. All these measures augurs well for the real estate sector during such trying times .We hope that the government will continue to take all the necessary actions in the near future for the betterment of the overall economy. The current scenario offers excellent investment opportunities in residential real estate as affordability is at all time high. The post-pandemic world will be good for the real estate sector, the one sector that will emerge as the silver lining in such a bleak scenario and offers you the best bet – stability, security and safety.