Real Estate Sector hailed the merging of banks – said business will prosper
Real Estate Sector hailed the merging of banks
The real estate sector has welcomed the merging ten banks into four big banks as the announcement by the central government. People associated with the real estate sectors say that this move will strengthen banks and providing loans to buy houses will become easier. Developers say that this merger will provide more money to banks for lending and will also provide more funds to the real estate sector. The real estate market will be positively affected by this.
Real estate market will be affected positively
Saurav Paruthi – MD of Param Homes, an emerging Real Estate Developer in Noida, says the government is repeatedly talking about reviving the real estate sectors. For this, several steps have been taken by the government. Saurav says, “This time there is a need to provide more funds to the real estate sectors. It is expected that the four big banks formed after the merger of ten banks will provide more funds to the real estate sectors. This will have a positive impact on the sectors, as buyers/investors perspective and with a developer’s perspective too.”
Banks will benefit from re-capitalization
Nirala India MD – Iftikar Ahmed says, “The government has announced a grant of Rs 55,250 crore to banks with the merger. With this re-capitalization, banks will have more money available for lending.” Ahmed says the merging of banks will definitely benefit the real estate sector and that the government should also provide separate funds for the real estate sector. At the same time, Hariom Dixit, Director of Gayatri Group, says, “RERA, the provisions of the Pradhan Mantri Awas Yojana (PMAY) and the budget have changed the real estate sectors significantly.” After the merger of the banks, the fund problem for this sector will deplete rapidly. The real estate market will be positively affected by this.