Housing loans
In order to boost the demand in the real estate sector and help the poor section in purchasing homes, the government has announced new policies that will offer an interest subsidy on housing loans. The Government awaits the approval of the cabinet for its Real Estate Development and Regulation Bill that will give an interest [...] Continue Reading »
The issuance of unsecured redeemable non-convertible debentures by India Infoline Housing Finance Limited (IIFL), which is the housing finance subsidiary of IIFL Holdings Limited, has been oversubscribed 2.24 times of the base issue. As per the stock exchange data the total collection was Rs 224.5 crore which is 2.24 times of the base issue. 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 »
Under the National Housing Bank’s Refinance Scheme of Rural Housing Fund, DHFL Housing Finance will grant housing loans at 9.35 per cent interest for 7 years fixed loans up to Rs 15 lakh. DHFL Housing Finance, Managing Director, R Nambirajan said in a release NHB has decreased the interest rate under this refinance scheme to [...] Continue Reading »
Kochi: The Kochi Corporation had requested the state government for an exemption to provide individual housing loans to families belonging to below poverty line (BPL) under the Rajiv Awas Yojana (RAY) scheme. But the government failed to take up the request following which apprehensions have been raised about the successful implementation of the scheme. According [...] Continue Reading »
Nagpur- Sahara City Township being developed on 107 acres of land in off Wardha Road, Nagpur has been facing several issues. The construction work has been kept pending and it has only few residents staying in the township. Residents are unhappy as there are hardly any neighbours who are residing in their surroundings. Sahara City Homes [...] Continue Reading »
Despite the downfall in affordability, the Indian home loan market is expected to grow by 17-19 percent in the current fiscal year, according to credit rating agency IRCA. Lower home loan rates, attractive schemes, etc. fuel the home loan market growth in 2012-2013, said IRCA. Because of the high cost of properties in India, tough operating [...] Continue Reading »
New Delhi- Since the banking industry’s spotlight shifts to retail borrowers, the Union Bank of India has reduced the home loan rates by 0.25 percent. The bank announced that the revised rates are applicable from November 29. For home loans up to Rs 75 lakh, the base rate at 10.50 per cent will be applicable, [...] Continue Reading »
As a result of funding gap, many housing projects have been shut down and as a result, economy has slowed down. The government has directed many banks across the state to unblock values of stalled projects and provide financial dose to turn them viable. National housing bank (NHB) decided to begin the search for the [...] Continue Reading »
Edelweiss Housing Finance to introduce housing loans of less than Rs 10 lakh in Madurai. The firm target the low income group and those constructing their own homes in Chennai suburbs and small towns and in Tamil Nadu. The target of the plan is to focus on self employed and small and micro entrepreneurs and [...] Continue Reading »
