Housing loan
A sense of ease and relaxation shall be noticed among all borrowers of low income who are currently prompting for microfinance institutions. The reason behind this sense of ease is the rules of lending which are pretty outdated so that the offerings are not diversified. However they tend to be in the changed economic scenario. [...] Continue Reading »
To grow their secured credit portfolio, Banks usually believe housing loans the best bet. Whereas that is frequently the case, some public sector banks have reported higher level of non-performing assets (NPAs) in their housing loan book. At six public sector banks, the finance ministry has showed concern over high home loan NPAs counting the [...] Continue Reading »
Nachiket Mor, central board member of RBI suggested the National Housing Bank (NHB) to work on a benchmark index for floating interest rates in housing loans. He also said that such indexes could result in the expansion of unoriginal market based on it. He also added that the indexes must be customer oriented. He also [...] Continue Reading »
The Hyderabad chapter of Confederation of Real Estate Developers Association of India (CREDAI) has announced to organize a three day property show ‘Hyderabad Property Show-2014’ from February 28 at Jalavihar, Necklace Road. CREDAI Hyderabad president N Jaiveer Reddy and general secretary S Ram Reddy while interacting with the mediapersons here said that over 100 developers [...] Continue Reading »
Tata Housing Finance has announced lower rates for women home loan borrowers. The company competes with various financial institutions which offer special loans for women. The company issued a statement that for loan up to 40 Lakhs the rates will be 10.15% for women, while for other borrowers it will be 10.45%. The company stated [...] Continue Reading »
Bhubaneswar- Odisha developers are suspicious with the state government’s plan of developing one lakh affordable houses in 10 years. The government had initiated ‘scheme for affordable urban housing in Odisha-2012′ which directs developers to reserve 15 percent built-up space for developing residential units for economically weaker section (EWS) and lower income group (LIG). But the [...] Continue Reading »
With the Union Budget in the pipeline, developers have sent their wishlist to the Finance Minister to be included in the upcoming budget. The real estate developers’ body CREDAI has demanded for an inclusive housing policy and tax incentives. Presenting an inclusive housing policy, the developers’ body also demanded for housing sector to be accorded [...] Continue Reading »
State Bank of India (SBI) is witnessing a significant growth in its home loan segment since it cut rates in the beginning of August. Officials of the country’s largest lender revealed that number of home loan applications being received per day has now doubled to 800 from 400. However, the officials stated that since there [...] Continue Reading »
Home loan borrowers may get access to an alternate window rather than to wait for the Reserve Bank of India to ease interest rates as government is planning to furnish cheap housing credit opportunities. Indian Bankers Association (IBA) has been asked by the government to look into ways to provide affordable credit to home loan [...] Continue Reading »
The National Housing Bank has scrapped pre-payment penalty on dual rate housing schemes. The Reserve Bank of India, the banking regulator, has already removed pre-payment charges on dual rate schemes. Housing Finance Companies (HFCs) generally charge 2-4 per cent of the loan outstanding as early repayment charges in order to deter customers from closing the [...] Continue Reading »
