Property developers said the special public sector bank home loan package on Monday was unlikely to spur growth in big cities such as Delhi and Mumbai. “It may not be enough to benefit all but it is a good and welcome beginning,” said Niranjan Hiranandani, managing director at Mumbai-based Hirandani Constructions.
“No house can be bought in this budget (sub Rs 20 lakh) in Mumbai. Banks should have increased the limit to Rs 35 lakh,” said Manju Yagnik, vice-chairman, Nahar Developers, in Mumbai.
Sanjay Chandra, managing director of Delhi-based Unitech Ltd, said it may not be possible for the company to launch affordable housing projects in metros but there is scope to launch such projects in the suburbs.
Rohtas Goel, chairman , Omaxe Ltd, said he wanted the upper limit of the special window to be raised to Rs. 30 lakh.