Business Wire IndiaWhile the nation deals with the challenges posed by demonetisation, especially in terms of exchanging the old Rs. 500 and Rs. 1000 notes for new ones, home seekers might just end up with positive gains from the scenario. “It looks like being ‘advantage home buyer’ on two aspects,” said Niranjan Hiranandani, CMD- Hiranandani Communities and Founder-President, NAREDCO Maharashtra.At level one, the situation which we see developing is one where bankswill be flush with funds, and will be open to lending to customers –in this case, home seekers, said Niranjan HIranandani. “The second positive is one where the situation looks like it will offer space tothe RBI to reduce rates in the coming months, which will have a directimpact on home loan interest rates and EMIs,” he added. “I expect a25-basis-point rate cut by the RBI in Q1 of calendar year 2017,” he said.
“For a home buyer, the impact of demonetisation of Rs. 500 and Rs. 1000
notes on home loan interest rates could be positive, and we lookforward to home seekers ‘dream homes’ becoming a ‘reality’ – with alower interest rate home loan,” Niranjan Hiranandani concluded.Niranjan Hiranandani is Founder & MD, Hiranandani Group. His recentinitiative is Hiranandani Communities. He is the Founder and FirstPresident (Maharashtra), National Real Estate Development Council(NAREDCO), which works under the aegis of Ministry of Housing & UrbanPoverty Alleviation, Government of India.
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