Housing loan
State Bank of India (SBI) has revealed that it has cut its annual home loan growth target by up to 10 per cent age points. The biggest lender of the country has to revise their target due to sluggish growth in property market. The bank cut its home loan rates on Wednesday by up to [...] Continue Reading »
A day after SBI reduced home and auto loan rates and the National Housing Bank (NHB) announced reduction in the refinance rate under a special scheme for the economically weaker section, there seems to be a possibility of further cut looming in the horizon. Moreover, SBI said that it would cut interest rates on fixed [...] Continue Reading »
The government is to provide interest subsidy of up to Rs 14,912 this fiscal for housing loan not exceeding Rs 15 lakh, which came as a relief to small home loan borrowers. The Cabinet decided to extend by one year the interest subvention scheme of one per cent on housing loans up to Rs 15 [...] Continue Reading »
Eastern Financiers is buoyant on LIC Housing Finance. It recommends buying rating on the stock with a target of Rs 329 in its July 2, 2012 research report. LIC Housing Finance (LICHF), promoted by LIC of India, is one of the largest players in the nation’s housing loan segment.In addition of having a widespread network [...] Continue Reading »
Central Bureau of Investigation (CBI) has conducted raids in Allahabad and several other cities of Uttar Pradesh pertaining to alleged irregularities in sanctioning of housing loan by a nationalised bank official. Sources from CBI said, raids were conducted in Allahabad, Lucknow and Sant Ravidas Nagar (Bhadohi) in connection with the scam related to alleged misappropriation [...] Continue Reading »
Due to an increase in property prices and poor salary increments, home sales witnessed a slump in New Delhi. Manas Tripathi, an executive at a Delhi-based car company, said since property prices have gone up and only 5 per cent of increment in salary, he is not able to take a huge housing loan. He [...] Continue Reading »
The Reserve Bank of India said that it has more headroom to reduce rates following a drop in oil prices which reduces pressure on inflation. RBI deputy governor said that the central bank today has more room to cut interest rates. Factors suggesting more room are growth somewhat lower than expectations that may have a [...] Continue Reading »
Banks are the major source of funds for the realty sector in India. Due to steady downfall in demand, the real estate companies were not able to repay their bank loans. In a report submitted to the Lok Sabha, it is reported that almost 7 lakh crore of bank loans are still to be paid [...] Continue Reading »
The Reserve Bank of India has brought about many new directives and guidelines for taking Home Loans. The most controversial decision was the exclusion of stamp duty, registration fees and all other allied charges while calculating the loan to value when taking a home loan. The loan to value is the loan amount taken against [...] Continue Reading »
According to the Reserve Bank of India (RBI), the value of the security of a real estate property does not cover the outstanding loan amount, which leads to larger non-performing assets (NPAs). It is tough to get a loan against the NPAs. As the risk weightage for any loan exceeding the Loan To Value of [...] Continue Reading »
