International Rating Agency Fitch has lowered its 2017 outlook on the Indian Housing Sector. Here’s why.
According to Fitch, residential property sales in India will decline 20-30 percent in 2017, thanks to demonetisation.
As a result, Fitch lowered its outlook on the Indian Housing Sector to ‘negative’ from ‘stable’.
Demonetisation shook the real-estate sector, which has traditionally been a safe haven for black money.
However, the government has approved a 3% interest subsidy on Home Loans of Rs. 2 lakh in rural areas.
Make the most of low Home Loan rates. Our loan rates start at 8.25%.
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