With reference to the article, "'Rajan is right: Salaried class can't afford a house' (August 22), the salaried class could afford to buy houses if only the Reserve Bank of India and the Centre were to instruct banks to offer 100 per cent finance and refinance options to the buyer along with interest rates on par with the world average of three to five per cent and long terms for payback of up to 30 years.
This way the salaried class could own homes instead of paying high rents to landlords. This would also have helped reduce the inventory of builders and increase demand from end-users of properties instead of investors. According to a report, at present 70 per cent of buyers are investors and the rest end-users.
Letters can be mailed, faxed or e-mailed to:
The Editor, Business Standard
Nehru House, 4 Bahadur Shah Zafar Marg
New Delhi 110 002
Fax: (011) 23720201
E-mail: letters@bsmail.in
All letters must have a postal address and telephone number
This way the salaried class could own homes instead of paying high rents to landlords. This would also have helped reduce the inventory of builders and increase demand from end-users of properties instead of investors. According to a report, at present 70 per cent of buyers are investors and the rest end-users.
Amar Bhasin Cherrybrook, Australia
Letters can be mailed, faxed or e-mailed to:
The Editor, Business Standard
Nehru House, 4 Bahadur Shah Zafar Marg
New Delhi 110 002
Fax: (011) 23720201
E-mail: letters@bsmail.in
All letters must have a postal address and telephone number