Home loan rates to remain firm for now

Home loan rates are likely to remain firm for a short period of time, owing to change in policy rates, said Madhumita Ganguli, senior general manger at HDFC.

The central bank last year had raised key policy rates which resulted in tightening of liquidity, a step aimed towards addressing inflation concerns.

The rise in policy rates resulted forced banks to revise the lending and deposit rates.

HDFC which already has increased the prime lending rate, anticipates no impact on the housing loan business for the time.

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Ganguli added there was no immediate concern for the housing loan growth as it is unlikely to be affected by the increase in PLR.

The demand for housing is robust which is likely to lend an impetus for the housing loan growth.

According to a survey, there is housing shortage of 24.7 million dwelling units. Madhumita Ganguli was here to announce holding of properly fair by HDFC.

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The three-day property fair beginning on January 7 would exhibit over 25 projects located in and around Chandigarh, Haryana and Punjab under one roof.

Madhumita Ganguli, maintained the objective of the show was to provide a platform for home seekers to directly interact with a large pool of renowned developers under one roof, seek information on their established and upcoming projects and also seek assistance from HDFC in getting their home loan approved quickly.