HFCs have to coordinate with developers and bring unique combo offers

By Accommodation Times (www.accommodationtimes.com)

Mr. Abhay Kumar
Abhay Kumar, is the Cofounder and Managing Director of Reddvise. Abhay is an Engineer and an MBA from Symbiosis. Prior to his entrepreneurial journey, Abhay worked with one of the top Indian IT companies and was a key account manager for their Central American business in Enterprise Application segment and executed major IT projects in that region. He looks after the entire marketing and operational activities of Reddvise across different cities and verticals. In an exclusive interview with Accommodation Times shared his knowledge and made some anticipation regarding the housing finance companies.

> According to the several realtors or market expert’s real estate market is facing slowdown due to the rising interest rate and any further rise will cripple the sector, how far it is correct?

That’s fairly true. As more than 80% of people apply for home loan while buying a property, the north ward movement of home loan rate interest is real dampeners to overall real estate market. The normal attitude is to postpone buying decision till interest rate softens up.

> Is there a likelihood of housing finance companies to also migrate to a base rate?

That completely depends upon on the overall interest policy of RBI. If it gets reduced, the banks will follow. I am pretty sure the rates will come down as RBI has given enough indication of softening interest rates.

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