Market Magic

Home loans are to buy all our dreams

Roti, kapada aur makaan has been the guiding light for mankind since time immemorial. Throughout the world to own a house has been one of the cherished dreams. Thanks to this dream, the real estate market has been consistently on an upswing. With prices surging up an average Indian always feels short of funds for his dream home when he ventures into the market.

However, the economic reforms over the past few years have led to a significant decline in the housing finance interest rates. The southward movement in interest rates, together with tax sops associated with home loans, has made opting for a housing loan almost a must when one thinks of buying a house. So when India's richest man and software major Wipro's chairman Azim Premji wanted to build a house (a palatial farmhouse, to be precise), even he went for a housing loan. Premji draws an annual salary of Rs 2.4 crore and he is estimated to be worth nearly Rs 40,000 crore.

Read More

posted by Arhaan @ 9:35 PM