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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 »

SBI cuts home loan rates; shares fall

SBI cuts home loan rates; shares fall
Shares in State Bank of India fell 1.1 percent as a result of their declaration to cut home loan rates for new borrowers. SBI cut its rate on auto loans to 10.75 percent from 11.25 percent, while cutting home loans to a range of 10.25 percent to 10.4 percent depending on the lent amount. The [...] Continue Reading »

Retails loans may turn cheaper as RBI cuts SLR

Retails loans may turn cheaper as RBI cuts SLR
Retail loans may turn cheaper as country’s central bank, Reserve Bank of India (RBI) has announced a reduction of one percentage point in Statutory liquidity ratio (SLR) for banks. Retail customers may get the benefit of lower lending rates as banks may reduce rates on retail loans. The lower SLR, which is the proportion of deposits banks [...] Continue Reading »

Godrej Properties signs MoU with Axis Bank

Godrej Properties signs MoU with Axis Bank
A memorandum of understanding (MoU) has been signed by realty major Godrej Properties (GPL) with Axis Bank to offer special home loan solutions for its customers. Under the agreement, GPL’s customers will get a home loan from Axis Bank after paying 10 per cent from their own resources as against the traditional 20 per cent. [...] Continue Reading »

CREDAI called for reforms in realty sector

CREDAI called for reforms in realty sector
The Confederation of Real Estate Developers Association (CREDAI), on Wednesday, called for comprehensive reforms in areas related to land administration, banking and taxation to lift the realty sector and support in meeting the shortage of 26 million houses. CREDAI unveiled 10-point agenda to revive the sector, which is facing demand slowdown due to high interest [...] Continue Reading »

Flat owners to get inheritance rights in Delhi

Flat owners to get inheritance rights in Delhi
In a verdict ensuring that the city’s home buyers can have exclusive ownership rights and they do not have to struggle to sell it, obtain loan on it or leave it to their children as legally accepted endowment, the Delhi high court directed the land-owning agencies of the city to execute for flat buyers a [...] Continue Reading »

Set housing finance companies as a separate sector- Assocham to SEBI

Set housing finance companies as a separate sector- Assocham to SEBI
The Associated Chambers of Commerce and Industry of India (ASSOCHAM) said that the market watchdog, SEBI, should categorize housing finance companies (HFCs) as a separate sector from Non-Banking Financial Companies (NBFCs) to attract more fund flows. It suggested SEBI not to club HFCs with NBFCs for the purposes of sectoral limits proposed for investments by [...] Continue Reading »

Home loan interest rate subsidy cut by government

Home loan interest rate subsidy cut by government
The government focuses on austerity over growth to contain the increasing fiscal deficit, it has cut the size of interest rate subvention corpus for affordable housing loans by 20%. It has fixed the corpus at Rs 400 crore for the current fiscal, 20% less than last fiscal’s Rs 500 crore. The government runs a 1% interest subvention [...] Continue Reading »

SBI home loans show slower growth

SBI home loans show slower growth
State Bank of India’s (SBI) home loan portfolio grow by less than 2% in the three months ended June – its lowest sequential, or quarter-on-quarter, growth in five quarters. The portfolio stood close to Rs1,05,000 crore as of June 30, compared with Rs1,02,739 crore as of March 31, according to a senior official at the [...] Continue Reading »

Stop levying pre-payment penalty – RBI

Stop levying pre-payment penalty – RBI
The Reserve Bank asked urban co-operative banks (UCBs) to stop levying penalty on pre- payment of home loans on floating interest rates with immediate effect. Earlier this month, RBI had also asked the commercial banks to stop charging such penalties. The removal of foreclosure charges or pre- payment penalty on home loans will lead to [...] Continue Reading »



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