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Growth of Home Loan records a bad breakdown midst Diwali in India

Growth of Home Loan records a bad breakdown midst Diwali in India
Diwali in India used to record 10 percent profit every progressive month in home loan sectors. However the same time prevails no more as this Diwali recorded a flat income in home loan sales. The housing finance sectors were astonished to face a bad breakdown as this happened never before in the history. Central Bank [...] Continue Reading »

Only 2.5 percent of City area is open for Public Space in Mumbai

Only 2.5 percent of City area is open for Public Space in Mumbai
In Mumbai hardly 14 square kilometer that is 2.5 percent of the city area is let out for the public and midst total area space of 480 square kilometer. This includes the public parks, parking spaces and also recreation grounds for a number of 14 million people. However in the scenario is entirely different in [...] Continue Reading »

Power Hike Tariff paused in Bangalore

Power Hike Tariff paused in Bangalore
The Karnataka Electricity Regulatory Commission (KERC) had recently decided to revise the power tariff leaving the residents of Bangalore in a trauma. However the commission has now decided to put a pause to the rate hike for certain span. With the on going raising interest rates, water tariff hike and now the spared  power supply [...] Continue Reading »

Realty Developer in Mumbai to Invest Rs 10,000 crore for Wadala Project Development

Realty Developer in Mumbai to Invest Rs 10,000 crore for Wadala Project Development
The Lodha Group a realty developer has come forward to invest more than Rs 10,000 crore for project development on a 22 acre land at Wadala in Mumbai. The investment proposed by the Lodha Group will include development and construction cost and also the interest rates in concern to this property will be paid to [...] Continue Reading »

Home Loan Borrowers to face Annual Burden of Rs 6,000 crores

Home Loan Borrowers to face Annual Burden of Rs 6,000 crores
Indian financial market is facing a slowdown in economic growth which is increasing bad loans resulting in home loan borrowers to face annual burden of Rs 6,000 crores. There is a drastic increase in Equated Monthly Installments (EMI) and this due to the rising interest rates. Meanwhile the Reserve Bank of India (RBI) has hiked key [...] Continue Reading »

Rising Interest Rates impact on Home Loans

Rising Interest Rates impact on Home Loans
The rising interest rates in Mumbai have an impact on home loans. Home loan borrowings have gone up by 21% since March 2010. The property prices have remained relatively subdued in several sectors. Reserve Bank of India have been tracing the latest data that have aggregated home loans by the commercial banks rose 21% till [...] Continue Reading »

National Housing Bank Sets 0.4% Loan as Buffer

National Housing Bank Sets 0.4% Loan as Buffer
The National Housing Bank (NHB) raises provisioning requirement for doubtful assets up to 100%, asks housing finance companies to set aside 0.4% loans as buffer. The new guidelines are aimed at protecting the health of HFCs when concerns over possible asset quality deterioration increases manifold amid rising interest rates, but industry captains said their prising [...] Continue Reading »

Rising Interest Rates affects Housing Finance Companies

Rising Interest Rates affects Housing Finance Companies
HDFC posted a marginal growth in the net profit; however LIC Housing and Dewan Housing both reported a severe drop in the financial market. During the month of June 2011, both of these financial sectors reported a severe decline in sanctioning loans and there are few borrowers approaching them for funding. The actual impact is [...] Continue Reading »

HDFC followed ICICI Dual-Rate Home Loans Scheme

HDFC followed ICICI Dual-Rate Home Loans Scheme
ICICI launched its dual-rate home loans scheme nearly a month back where customers can choose a fixed rate for one or two years, HDFC unveiled ‘Fixed First’, a home loan where interest rates are fixed for the first three or five years and then shifted to floating rates, on Monday. For loans up to Rs30 [...] Continue Reading »

NHB: Keep a Close Watch on Rising Interest Rates on Home Loans

NHB: Keep a Close Watch on Rising Interest Rates on Home Loans
Interest rates levied by housing finance companies (HFCs) have risen to 11-11.25% from 8.5% in the past year, raising monthly instalments. With interest rates moving up, most of the lenders are going to be impacted as almost 85% of the loans are on floating (interest) rate. National Housing Bank (NHB) asked lenders to keep a [...] Continue Reading »



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