I live in Chennai and my feeling is Chennai flood would hardly have any impact on home loans.
We are good, the impact was no where close to what you felt watching on tv. I doubt my friends who are planning to buy homes soon would change their mind due to flood. The only thing I think can happen is the residential plots which got affected by flood may see a drop in price of houses for upcoming projects but that too is a very small number maybe around 10-15% of the overall construction work going on in the city. Unlike Eicher Motors where production was hampered here I don’t think any permanent loss is incurred by home loan sector except for suspicion in the minds of buyers which all areas to avoid for buying homes.
| Subscribe To Our Free Newsletter |
