“The RBI’s move to make city-wise classification of affordable housing and periodically review its definition is a significant step forward in boosting the real estate sector. The increase in cap of affordable housing eligible for loan under priority sector was imperative considering the rising prices of homes in the last few years. Homebuyers can now avail loans easily and at a lower 
interest rate. As a result of this, a rise in demand of affordable housing is imminent thereby leading to more developers focusing on affordable housing segment and creating varied choice and ample supply in this segment. In the next 9-12 months, inflation is expected to be reigned in and interest rates are also expected southbound should benefit a lot of homebuyers and reduce their EMI burden.
The RBI’s move coupled with the Government’s various tax benefits in Budget will spur demand in real estate and as a result help realize Government’s vision of housing for all by 2022.
Omaxe has been operating at these price points in 30 cities and with RBI’s impetus, we plan for an aggressive expansion of existing projects. Our offerings in these cities vary from townships, residential complexes and commercial. With plots, floors, villas, group housing etc to choose from in residential segment, Omaxe’s first mover advantage into tier II and III cities almost a decade ago will further get a stamp of enhanced desirability in these cities.”
Source: Lokesh Shastri
Mohit goel is one of the most sought after real estate tycoon in the country right now and he has proved it yet again.
RBI has done its job and now it’s the government which needs to take the required steps. As Mohit said, we all must work towards the same.