Central bank
Realtors’ body CREDAI (The confederation of Real Estate Developers’ Association of India) today appreciated the RBI’s (Reserve Bank of India) move to ease norms for banks to raise long term funds for financing affordable housing. They believe that this will lead to cheaper credit for such projects. In order to encourage infrastructure development and affordable housing, [...] Continue Reading »
A person familiar with the plan told that there is a possibility that banks will be ordered to scrap penalty on pre-payment of all retail and small corporate loans and do away with fines for failure to maintain minimum balance if the recent ‘nudge’ does not work by the Reserve Bank. Since the entire system [...] Continue Reading »
The RBI may issue orders to scrap penalty on pre-payment of all retail and small corporate loans. The central bank disputes the practice of charging pre-payment penalty on any loan since the entire system has moved to floating rates — be it deposits or loans — where rates are charged based on the prevailing markets, [...] Continue Reading »
A fall of 41 per cent of Net Profit in the quarter ended December 2013,has been registered of top 25 real estate companies, in comparison to peak period of quarter ended March 2012.As per the report by global realty consultancy Knight Frank the net profit margin have fallen from 13.6 per cent to 9.7 per [...] Continue Reading »
Recently, Tata Housing declared it is planning to invest Rs.1, 200 crore for developing 13 housing projects for senior citizens in the next five years. In Bangalore by the name of Riva Residences, the company had already launched its first project and work for similar projects would soon commence in more cities, including Chennai, Ahmedabad, [...] Continue Reading »
Real estate experts have predicted a downward pressure to be faced especially in affordable and mid-income housing. Central bank has sent a notification to exclude stamp duty, documentation charges and registration charges in concern with ascertaining value of the property. With this kind of notification the property buyers are sure to delay their decision of [...] Continue Reading »
Finally, Reserve Bank of India (RBI) has kept the interest rates unchanged! This is the first time midst this year RBI has paused the hike. During this year RBI has hiked the interest rate nearly 13 times within a span of 21 months. Also central bank has shown clear signs of interest rates dropping down [...] Continue Reading »
The Reserve Bank of India (RBI) has brought in new scheme to the residents to pay housing loans of Non-resident Indians (NRI) or People of Indian origin (PIO). The apex bank reported saying that this scheme has been decided in India to a non-resident Indian. Also the central bank allowed residents and individuals to pay [...] Continue Reading »
National Housing Bank (NHB) chairman and managing director RV Verma reported saying that the Housing loans seems to be slightly discomforting as buyers feel there is no way of getting properties at the affordable prices. The central bank recently has increased short-term rates and this hike has been recorded within a span of 18 months. [...] Continue Reading »
