TATA Group’s real estate arm- TATA Housing- announced its partnership with Indiabulls Housing Finance to offer home loans at a rate of 3.99 percent to those who buy apartments in its ongoing projects. This scheme is available across 11 projects of TATA Housing in seven cities.
This special home loan rate will be valid for the first five years.
In an interview with the Economic Times, TATA Housing Marketing and Sales Head Tarun Mehrotra said that this move is targeted at encouraging fence-sitters to finally act on their desire to invest in real estate. He also added that real estate sector is ready to change but investors need to be encouraged to step into the arena and take benefit of this wealth generating asset.
The real estate market sentiments have been showing downward trend for the last few years. Post demonetization and the new GST regime in place, the situation has only worsened. Therefore, a number of developers are offering interest subsidies and special offers to encourage buyers to invest in real estate.
The minimum rate on home loans is 8.35 percent in the market.