Interest rate
Banks must effect any change in floating rate loans only at the agreed-upon reset date, RBI suggested. This aims at ushering in transparent and appropriate pricing of credit, according to an RBI working group. It was suggested by the group that floating rate loan agreements can have interest rates reset monthly, quarterly, half-yearly, etc. This [...] Continue Reading »
While the benchmark Sensex — which has hit several all-time highs — has risen just 3.6 per cent, in the past month, the BSE realty index rose around 12 per cent. In the last one month, the realty stocks have been rising on the hope of revival of the economy. HDIL rose around 53 per [...] 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 »
Many well-to-do investors who have invested money into real estate bonds to get higher returns from a secured investment have been taken aback due to a default in a property debenture since the turbulent days of 2008-09. A month-and- a half ago, a Bangalore based realtor, failed to pay the interest rate on time. While [...] Continue Reading »
With the extension of the deadline to pay the Value Added Tax (VAT) dues by the Supreme Court, now the buyers and the developers are quite relieved. The deadline has been extended October 31 for the VAT on flats purchased in Maharashtra between 2006-2010. Also the SP has directed the Sales Tax Department to waive [...] Continue Reading »
The State Bank of India (SBI) is planning to showcase ‘lower equated monthly installment savings investment proposition’ to their existing customers as well as prospective customers including home loan customers of other banks and housing finance companies. The bank has lowered the equated monthly installments (EMIs) on home loans by about Rs. 15-19 across the [...] Continue Reading »
Various leading banks have now made it possible for the home buyers to pay back their loan at leisure. Banks have adopted this policy in order to improve their retail credit group. The first ever bank with the longest year of repayment in the India’s banking history is the State Bank of India (SBI) with [...] Continue Reading »
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 »
The Haryana government has asked Maruti Suzuki to pay Rs 235 crore to the state government as enhanced compensation to the farmers for land acquisition as ordered by Supreme Court for its plant in Manesar. The company has been served three months notice and warned that the land allotted for the Manesar plantwould be taken, [...] Continue Reading »
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 »
