For the past half-decade, the real estate sector had been reeling
heavily under the severe pressure of decreasing demand, slowdown in economy and
soaring property prices across the country, primarily in metro regions such as
Delhi/NCR, Bengaluru, Kolkata, Mumbai and others.
It was just a matter of time when the saturation would be reached
and customers will start disappearing from the market. Indian realty sector had
really started to witness such a scenario where the demand for property was
actually hanging by a thread and customers were unable to buy a property due to
unaffordable prices and economical dampness. Off late though, the market has
started to respond well with sentiments improving and customer footfall
increasing at project sites. “A very basic way of understanding whether the
market is reviving or not, is when the customer queries and footfall on sites
are increased.
After the SBI rate cut
Neptune Group like other builders are hopeful that a fall in interest rate will somewhat uplift the
sector. The decision to cut key interest rate is likely to reduce borrowing
cost for both home buyers as well as developers which leads to increase the
housing demand. This step of RBI is to seek further cut in interest rates as
well as policy reforms for the growth of realty sector because this sector is
facing a huge demand slowdown in last few years.
