Reserve Bank of India finally cut its main interest rate. This rate-cut by RBI will push other banks to offer home loans at lower interest rates. However the rate-cut is believed to benefit only the new applicants for home loans. Finally the home buyers can submit their application for home loans. According to the new […]
Tag: Home Loans
Revival of Realty
March 21, 2010 – 3:47 pm
Indian real estate in the last few months has authenticated a reawakening enforced by a noticeable increase in the level of construction activity of low-budget housing coupled with low home loan rates. As researched by Boston Analytics, the Indian realty sector has undergone an increased supply and pace of development activity which brought an improvement […]
Interest rates on home loans decline further
October 8, 2009 – 2:25 pm
An interest rate war is brewing in the home loans this festive season. Development Credit Bank (DCB) and GIC Housing offering home loans below the psychological 8%. DCB, which recently entered the segment, is offering home loans at 7.95% for loans up to Rs 5 crore at fixed interest rate for the first year and […]
Punjab and Sind Bank, Hudco tie up
September 21, 2009 – 4:07 pm
Punjab and Sind Bank has announced that it has entered into an MoU with Hudco under the scheme of Interest Subsidy for Housing the Urban Poor. Loan amounts from Rs 1 lakh to Rs 1.60 lakh will be made available by the bank. A subsidised rate of interest of 5% will be charged for the […]
Is dream home affordable?
December 19, 2008 – 5:57 am
With PSU banks finally offering attractive interest rates for home loans below Rs 20 lakh, the assumption was that it would spur demand in smaller towns where housing is cheaper. As getting a Rs 20 lakh home loan just got cheaper at a 9.5% interest rate, buyers flock and builders revel, a welcome break after […]
Floating interest rates will come down
December 19, 2008 – 1:27 am
Existing floating home loan customers groaning under high interest rates can look forward to a more cheery New Year. After setting interest rates at 9.25% for new home loans between Rs 5 lakh and Rs 20 lakh, rates for existing home loans will be reduced as the PLR (prime lending rate) comes down. Home minister […]
Realtors say, Just in time
December 8, 2008 – 5:59 am
Real estate companies have welcomed the government’s move to ask banks to announce a separate package for borrowers of home loans in the affordable housing segment as part of the overall stimulus plan to revive demand in the economy. “We welcome various measures announced today by the government in its economic stimulus package. These measures […]
Real-Estate Sector does not see boost in Government’s Package
December 8, 2008 – 2:07 am
The real-estate sector does not see any boost in government’s package. The 4% Cenvat reduction on all non-petroleum products will bring down steel prices by Rs 1,000 to Rs 1,500 which in turn may lower prices in the real-estate sector where steel is a basic input. But real-estate industry today passionately said that the stimulus […]
Home loan sales reviving
November 11, 2008 – 1:44 am
Bankers believe their strained home loan portfolios will see relief in the coming quarters, with interest rate cuts coming into force. “We expect our home loan offtake to increase by 22 per cent y-o-y next quarter with the fall in interest rates,” said B.R. Pai, General Manager, Syndicate Bank. The bank, which has sixty-five hundred […]
Realtors still stuck in house of correction
November 3, 2008 – 12:01 am
The RBI’s rate cuts alone may not stimulate the sluggish residential market. Experts feel that developers may have to further cut prices to bring buyers back into the market. Meanwhile, as a result of drastic fall in home sales, higher capital and construction cost, most developers have reported decline in revenue in September quarter. “We […]
Real Estate sector is in dire straits
November 1, 2008 – 3:27 am
The tight liquidity condition and the rise in interest rates have affected realty sector hard. Because of the RBI’s policy of discouraging banks in lending to real estate developers, the fund flow to the sector has dwindled. This might even force a number of units to close down. The construction sector, which is the second […]
Lenders force builders to start selling
October 20, 2008 – 6:03 am
MUMBAI:Financiers have started talking tough with Indian property firms in trying to salvage the money they had lent. “Sell-before-it’s-too-late” is a point that some of the big lenders are driving home, while a few overseas funds which had committed equity investments in tranches have gone into arbitration to wriggle out of the promise. Most builders […]
Budget ’08: Industry Analysis
March 5, 2008 – 4:35 am
Everyone has expectations from the Budget and it is reasonable to accept that the Finance Minister cannot please everyone. The Budget speech reflects the absence of any significant tax changes impacting the real estate sector. It was widely anticipated that the Finance Minister will clarify taxation aspects in relation to Real Estate Investment Trusts, or […]
Loans to get cheaper as SBI cuts rate again
February 21, 2008 – 3:41 am
SBI has decided to cut the home loan repayment rate. After going up for months, EMIs are set to come down. This follows a decision by four public sector banks, led by SBI, to cut their prime lending rates further by 0.25% to 0.50%. SBI’s new PLR will be 12.25%, effective from February 27. Canara […]
