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Banks offer repayment in 30 years for home buyers

Banks offer repayment in 30 years for home buyers
Various leading banks have now made it possible for the home buyers to pay back their loan at leisure. Banks have adopted this policy in order to improve their retail credit group. The first ever bank with the longest year of repayment in the India’s banking history is the State Bank of India (SBI) with [...] Continue Reading »

Office space rentals in Mumbai on the rise

Office space rentals in Mumbai on the rise
Despite an increase in vacancies and low business and investor sentiment, the office rent in various micro markets in Mumbai are still increasing. The main reason for increase in office space rental is that there is a lack of quality supply in superior locations. However, there is a basic scarcity of available good-quality, right-sized Grade [...] Continue Reading »

Banks want RBI to relax norms to increase realty credit flow

Banks want RBI to relax norms to increase realty credit flow
Representatives of banks have expressed that they want the Reserve Bank of India (RBI) to relax the norms on asset classification in the real estate sector to facilitate credit flow. The revelation came in the wake of the finance ministry asking banks to increase lending to residential housing projects, so as to revive the cash [...] Continue Reading »

Finance ministry to meet up with bank executives

Finance ministry to meet up with bank executives
The finance ministry is to meet chief executives of leading banks to discuss credit flow to the real estate and housing sectors. D K Mittal, secretary of financial services, will chair the meeting of bankers, which will record stock of credit flow to the sensitive sectors. A committee of bankers had been set up to [...] Continue Reading »

NHB makes home loans easier for weaker section

NHB makes home loans easier for weaker section
Good news emerge for economically weaker section as National Housing Bank (NHB)has slashed its refinance rate by up to 100 basis points for home loans not exceeding Rs 5 lakh. NHB said it has reduced the rate to promote affordable housing finance for low income people in urban areas. It has been pondering schemes for [...] Continue Reading »

RBI strives for realty sector’s viability

RBI strives for realty sector’s viability
While banks are being unwilling to provide real estate loans, the Reserve Bank of India has been following a cautious policy to reduce risks associated with realty sector and to ensure that the sector remains sustainable and viable over a long period of time. National Housing Bank (NHB) has also played its role in de-risking [...] Continue Reading »

Homebuyers of Noida Extension demand banks to give up interest

Homebuyers of Noida Extension demand banks to give up interest
Greater Noida Authority has been offering a zero period to builders for paying installments. This seems to have motivated the homebuyers of Noida Extension. The buyers, forming a group of around 80 members, on Monday, demanded banks to waive off interest paid on EMIs during the land row period. Although builders have promised not to [...] Continue Reading »

KHB loses over 7 crore for faulty calculation of floor area

KHB loses over 7 crore for faulty calculation of floor area
The Karnataka Housing Board (KHB) incurred a loss of more than Rs. 7.2 crore for wrongly measuring the floor area of buildings it rented out in a prime location in Bangalore. Before renting out any property owned by state-owned boards and corporations, it is crucial to correctly measure the floor area of the property and [...] Continue Reading »

Forecast of Indian realty market by Fitch

Forecast of Indian realty market by Fitch
Indian real estate market has been forecasted to be dull in 2012 also. The negative mindset was seen in Fitch Ratings who think that due to less demand and hike in property prices, real estate sector in the country is again to see a downfall. The firm has also quoted that high construction costs and [...] Continue Reading »

Paying property tax made easier in Chennai!

Paying property tax made easier in Chennai!
Soon, paying property tax in Chennai is going to be an easier task, thanks to the city corporation. The Chennai Corporation has taken this initiative of appointing at least five public and private sector banks for collecting payment of property tax. The facility is planned to be launched after Pongal. The participating banks would be [...] Continue Reading »



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