Home Loan
Equated Monthly Installment or EMI can be defined as a fixed payment amount levied by a lender from a borrower at a specified date of each calendar month. According to the loan, the monthly installments are calculated to pay off both interest and principal each month, so that over a specified time period, the loan [...] Continue Reading »
Mumbai: On a move to step up real estate sales, Reserve Bank of India (RBI) has cut Repo Rate for the third time since January by 25 basis points. However, the lowering of the Repo rate by 0.25 percent may no sooner be beneficial to home loan seekers as it is too small to have [...] Continue Reading »
Kochi: The Kochi Corporation had requested the state government for an exemption to provide individual housing loans to families belonging to below poverty line (BPL) under the Rajiv Awas Yojana (RAY) scheme. But the government failed to take up the request following which apprehensions have been raised about the successful implementation of the scheme. According [...] Continue Reading »
Despite cuts in interest rates in home loans by banks, the growth in this segment has dipped as against previous years, as per Reserve Bank of India’s credit data. The trend of availing home loan to the housing sector was 13.3 percent in January 2012 which has dipped down to 12.3 percent in January 2013. One reason for [...] Continue Reading »
The home loan incentive which was announced recently by the Finance Minister with the Union Budget 2013 has been the talk since its release. The real estate developers are the group who can cheer the most with the incentive. One can claim the tax deduction only if his/her loan amount is less than Rs 25 lakh. Also, it has [...] Continue Reading »
NBH is setting up an Urban Housing Fund with an allocation of Rs 2,000 crore to infuse liquidity for urban housing and to boost demand in the city. According to NHB, the budget will boost the affordable housing with an additional interest benefit of Rs 1 lakh on first-time home loans up to Rs 25 [...] Continue Reading »
To assess collateral values for home financing, the UPA-II government is planning to attach greater importance and weightage to Residex, an index to capture changes in the prices of residential buildings at the national level. This drive was initiated keeping in mind the need for new financing schemes for the urban slums’ housing. The economic [...] Continue Reading »
Bangalore real estate sector is recording healthy growth and competition among the developers are rising. Real estate developers, mainly from Mumbai are bringing in the concept of deferred payment to the city to attract home buyers. The property buyers book apartments by paying a minimal amount of about Rs 2 to 5 lakhs and start [...] Continue Reading »
With the Union Budget to be presented in a week, Builders’s Association of India (BAI) expects a hike in exemption limit on the interest in home loan. At present, the exemption is set at Rs 1.5 lakh which the builders want to be set at Rs 3 lakh. The builders demand the Finance Minister to [...] Continue Reading »
In the Union budget of 2013-14, the housing minister had asked the finance ministry to raise the tax deduction limit on home loan to Rs 2 lakh from the existing Rs 1.50 lakh. This decision will be a relief to the needful borrowers suffering due to high interest rates. This will also boost the housing sector through this relief [...] Continue Reading »
