The Reserve Bank of India’s (RBI) decision to leave interest rates unchanged has been received with much enthusiasm by the real estate sector. Prospective home buyers will continue to benefit from low home loan interest rates as the central bank’s Monetary Policy Committee (MPC) kept key benchmark rates untouched.
Such developments will facilitate home buying decisions by prospective buyers as the real estate sector finds its feet in post-pandemic India. The pandemic has also reshaped buyers’ preferences, with spacious, luxury apartments being the go-to choice. Luxury home developers like Modi Builders, Prestige Group can expect demands to go even higher in the coming months.
As home loans hit a decadal low, luxury apartments and housing projects by developers like Modi Builders will be a hit amongst prospective buyers. Through its world class homes and luxury villas in Hyderabad, Modi Builders, for one, offers the best homes with the latest amenities for the future home owner. New lifestyles like the work from home (WFH) culture which became the norm during the pandemic, are also shaping buyers’ choices.
Extra space for designated work areas became a defining factor in how home buyers rated properties for sale. Affordable luxury apartments are quickly becoming the favorites among homeowners looking to make an upgrade. The pandemic has also highlighted the attractiveness of secondary cities and suburbs like Hyderabad and Pune. As the pandemic spread like wildfire in the metropolitan cities, home buyers began to shift their focus to tier2 and 3 cities where rates were cheaper. Moreover, these cities have been relatively safe from covid-19.
Such factors resulted in cities like Hyderabad to witness higher demands in the realty sector as home prices registered a positive climb. Modi Builders, a real estate company in Hyderabad, is one such player with a portfolio of affordable projects in different locations. Each project is designed keeping the present needs of the clientele in mind along with state-of-the-art facilities like gyms, parking spaces, recreational areas and 24×7 security.
The present scenario is ripe for home buyers looking to close in on that ‘dream house’ as the low interest rates are expected to stay unchanged for quite a while. The accommodative stance of the RBI will help the real estate sector get through these troubled times relatively unscathed.