With the festive season in full swing, Vinay Sah, MD & CEO of LIC Housing Finance tells Narayan Krishnamurthy, about the developments augmenting growth in the housing sector
Interest rates are low. But the uptick on home loans is not visible. What trends are you witnessing?
Home loans are growing around 15 to 17 per cent and hence it would not be entirely correct to say that uptick on home loans is not visible. The sector has seen two major reforms— RERA and GST. With RERA kicking in from 1st May 2017, builders are busy implementing their ongoing projects to the RERA regime. New launches have to be registered under RERA before any marketing activity by developers. Hence, in many parts of the country we could see a dip in launch of new projects. Second factor is the implementation of GST and clarity on the rate applicable to under construction units.Perhaps there were expectations of cost rationalisation for new units post GST which put prospective buyers in wait and watch mode. It is natural that new changes will bring its own challenges. Things are settling down fast as we see the number of projects getting registered under RERA. Confidence is slowly coming back. Typically, good deal of purchases, including homes for Indians, start from the festival season which has just commenced.
The government is continuing its drive on affordable housing and supports the first time buyers with credit linked subsidy scheme. The Employee Provident Fund (EPF) now can be withdrawn for purposes of down payment and EMIs of home loans. Interest rates are attractive. These are the positives needed to lift the sentiments of people. In my opinion, all of these vibes augur well for the end user segment and we can find sustained growth in the industry for the next few years.
With the festive season round the corner, do you see an update in home loans?
Denne historien er fra October 2017-utgaven av Outlook Money.
Start din 7-dagers gratis prøveperiode på Magzter GOLD for å få tilgang til tusenvis av utvalgte premiumhistorier og 9000+ magasiner og aviser.
Allerede abonnent ? Logg på
Denne historien er fra October 2017-utgaven av Outlook Money.
Start din 7-dagers gratis prøveperiode på Magzter GOLD for å få tilgang til tusenvis av utvalgte premiumhistorier og 9000+ magasiner og aviser.
Allerede abonnent? Logg på
Here's How To Claim Tax Refund If You Missed The ITR Deadline
The Income-tax Act, 1961, allows the refund of any excess income tax deducted on your income beyond your actual tax liability.
26 Spiels You Should Not Fall For
We have a list of 26 traps that you should avoid in your journey to creating wealth
Unified Pension Scheme
The Union Cabinet approved the Unified Pension Scheme (UPS) on August 24, 2024, guaranteeing 50 per cent of the salary as assured pension for central government employees.
Unlocking Financial Freedom with Freedom SIP: A Beginner's Guide
Freedom SIP is the smartest way to finance your retirement because it allows you to ride the compounding rocket to build wealth, even by investing a small monthly sum.
Asset Allocation Strategy to Safeguard Against Market Fluctuations
Invest in different asset classes, such as equities, debt, gold, etc., so that if a particular segment doesn't perform in a given situation, others will come to the rescue.
The Role of Asset Allocation in Investing
A proper mix of asset allocation that aligns with investor's goals is key to the portfolio's long-term performance and reaching milestones.
Why Retirement Planning is Crucial in Life
Retirement planning is the key if you want a financially secure life in your sunset years.
IS SENIOR HOUSING FOR YOU?
Many seniors have taken refuge in senior living facilities in their twilight years as their children have moved abroad. While that may help them ward off boredom, they often come at a huge cost
WITH OR WITHOUT INDEXATION: WHEN DO HOMEOWNERS PAY LESS?
Calculating taxes under both methods-considering inflation and property appreciation-can yield a more precise result
Flexing Its Way Across Market Cycles
Very few funds meet investors' expectations of delivering superior returns across market cycles, and HDFC Flexi Cap Fund is one of them.