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 the [...]
By Rajani
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Posted in Real Estate News
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Also tagged Attractive Interest Rates, Attractive Package, Bhubaneswar, Dream Home, Homebuyers, Liquidity Position, Localities, Orissa, Psu Banks, Pune, Real Estate Developers, Real Estate Developers Association, Realty, State Banks
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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 P [...]
By Rajani
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Posted in Real Estate News
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Also tagged Economic Reasons, Economic Situation, Emis, Existing Home, Finance Portfolio, General Elections, High Interest Rates, Home Minister, Liquidity Crisis, Lok Sabha, Manmohan, Manmohan Singh, Prime Lending Rate, Prime Minister Manmohan, Prime Minister Manmohan Singh
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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 and [...]
By Rajani
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Posted in Real Estate News
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Also tagged Bank Of India, Economic Stimulus Package, Government Data, Housing loan, Housing Shortage, Leading Real Estate, Loan Market, Montek Singh Ahluwalia, National Housing Bank, Private Banks, Public Sector Banks, Real Estate Developers, Reserve Bank Of India, Sanjay, Similar Moves, Steel Industries, Unitech Ltd
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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 [...]
By Rajani
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Posted in Real Estate News
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Also tagged Finance Companies, Finance Secretary, Government Data, Home Loan Interest, Home Loan Interest Rate, Housing loan, Interest Subsidy, Loan Interest Rate, Loan Requirements, Montek Singh Ahluwalia, Public Sector Banks, Real Estate Sector
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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 crore [...]
By Rajani
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Posted in Real Estate News
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Also tagged Bank Of India, Basis Points, Canara Bank, Confederation, Credai, High Interest Rates, Interest Rate Cuts, Liquidity, Loan Portfolio, Loan Portfolios, Loan Sales, Prime Lending Rates, Public Sector Banks, Real Estate Developers, State Bank, State Bank Of India, Syndicate Bank
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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 are [...]
By Rajani
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Posted in Real Estate News
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Also tagged Abhilash, Affordability, Construction Cost, Drastic Fall, Dtz, Global Financial Turmoil, Home Buyers, Home Loan Rate, Home Loan Rates, House Of Correction, Lower Mortgage, Market Experts, Mortgage Rates, Rbi, Realty Market, Residential Market, Rohtas, Stock Market Crash
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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 largest [...]
By Rajani
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Posted in Real Estate News
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Also tagged Affordability, Construction Schedule, Construction Sector, Global Financial Crisis, Government Policies, Home Loan Rates, Low Interest Rates, Market Crisis, Parsvnath Developers, Real Estate Developers, Real Estate Sector, Speculators, Tight Liquidity
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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 were [...]
By Rajani
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Posted in Real Estate News
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Also tagged Borrowers, Construction Finance, Downturn, Equity Investments, Finance Firms, Financiers, Interest Payments, Lenders, Loan Interest, Mutual Funds, Property Boom, Quarterly Installments
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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 REITs, [...]
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 [...]
By Rajani
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Posted in Real Estate News
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Also tagged Bank Of India, Borrowers, Canara Bank, Car Loans, Economy, Inflation, interest rates, Loan, Public Sector Banks, Repayment Rate, Sbi, Union Bank
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