external commercial borrowing
Recently RBI extended the deadline for the National Housing Bank (NHB) to raise funds through the external commercial borrowing (ECB) route, by six months. The central bank had allowed NHB and housing finance companies to collect funds up to$1 billion through this route to finance affordable housing loans up to Rs 25 lakh. Mr. RV [...] Continue Reading »
The National Housing Board (NHB) shall raise $200 million through ECB (external commercial borrowing) within the next fortnight. This will ensure will ensure that home loan players meet the $1 billion target of foreign fund raising in FY14. NHB regulates pure-play home financiers. It refinances a part of the housing finance portfolios and acts as [...] Continue Reading »
New Delhi- Real estate being beaten by decreasing demand owing to high interest rates and economic slowdown has demanded for infrastructure status for the housing sector in the Budget for 2013-14. If given the infrastructure status, the sector would gain of tax benefits and easier flow of funds. At least the affordable housing sector should [...] Continue Reading »
The Union Ministry of Housing and Urban Poverty Alleviation is in the process of finalizing the brand new affordable housing policy for residents of India. According to sources it may take another two months to complete the process of formatting the bill. The government had already allowed external commercial borrowing for low cost houses in [...] Continue Reading »
The government has planned to frame new affordable housing policy to boost up the weakening real estate sector in India. In an announcement by the Union Ministry of Housing and Urban Poverty Alleviation, it is confirmed that that the government is in the process of finalizing such a policy in two months. The government is [...] Continue Reading »
The government wants to make sure that no funds collected through external commercial borrowing for affordable housing scheme, will not be used by any other projects. The government is working on the implementation of the budget announcements. The project specification guideline rule and the routing of funds are under consideration. Government officials are working on [...] Continue Reading »
According to the different Realtors, the union Budget 2012 came up as a disappointing budget for the middle range of home buyers. Due to the rise in service tax the cost of construction of real estate projects will increase by Rs 50 to 150 per square feet from the coming April, 2012. External commercial borrowing [...] Continue Reading »
The real estate sector had a number of expectations on the budget 2012. The major highlighted effect of the budget over the real estate sector are : The budget proposed to open the doors for the External commercial Borrowing for specific affordable housing projects. The realty sector is hoping for an improvement of the liquidity [...] Continue Reading »
Real estate sector had a lot of expectation from the budget 2012. However the budget did not accept any of the assumptions of the sector. The leaders are not impressed with the outcome of the budget. The sector only achieved external commercial borrowing for low-cost affordable housing projects. The government took the decision to enhance [...] Continue Reading »
External commercial borrowing is allowed for low cost affordable housing projects. This is the only positive gain real estate sector achieved from the budget. However the entire real estate is disappointed after the announcement of the budget. The realty sector still not get the industry status. FDI norms for the real estate kept unchanged. Hence [...] Continue Reading »
