Loans
It might come as a relief for homebuyers hit by a volatile floating rate loans. The National Housing Bank (NHB) has planned to use a large portion of tax-free bond proceeds to shore up long term fixed-rate mortgage loans manily for low and moderate income housing in urban areas and suburbs. NHB has been working [...] Continue Reading »
The RBI may issue orders to scrap penalty on pre-payment of all retail and small corporate loans. The central bank disputes the practice of charging pre-payment penalty on any loan since the entire system has moved to floating rates — be it deposits or loans — where rates are charged based on the prevailing markets, [...] Continue Reading »
The SBI extends the last date of special home loan scheme. As per this scheme the women borrowers will get 0.05 percent discount. As per SBI the special rates were available till 31 March but the last date will be extended till the next notice. The scheme is extended because it got a great response [...] Continue Reading »
The Reserve Bank of India (RBI) disagrees with finance ministry’s plan to give Sarfaesi Act-powers automatically to all housing finance companies (HFCs) registered with the National Housing Bank (NHB). An official says that the ‘stringent’ Sarfaesi powers should not be given to institutions without proper due diligence of their management, track-record, borrower profile and default [...] Continue Reading »
Write offs of Rs 280 crore have further added to the losses of Gammon India. Due to write offs Gammon India has faced a loss of Rs 454 crore. This has been reported in the audit result done in December. The net sale decreased by 16.3% to Rs 1,020 crore and loss of Rs 150 [...] Continue Reading »
An analysis of national highway project done by CRISIL Research indicates a drop in the traffic growth in the last couple of years. The common traffic on many national highways has been very low than estimated by the National Highways Authority of India (NHAI). CRISIL researched on 15 national highways and found that the traffic [...] Continue Reading »
DHFL Housing Finance plans to offer housing loans at 9.35 per cent interest for 7 years fixed loans up to Rs 15 lakh. The offer is under the National Housing Bank’s Refinance Scheme of Rural Housing Fund. In a release, R Nambirajan, Managing Director, DHFL Housing Finance, informs that from February 1, NHB has reduced [...] Continue Reading »
The Union bank of India, a Mumbai based public sector lender, has decreased the interest rates on home loans above Rs 30 lakhs by 25 basis points. The bank is now offering home loans up to 75 lakhs at the base rate which is 10.5 percent. Loans above Rs 75 lakh and up to Rs [...] 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 »
Chennai- Income-Tax Appellate Tribunal (ITAT) of Chennai affirmed that the interest on home loans will continue to be out of the tax net despite the property gets sold later on. The interest paid on loans is surely an expenditure that should be taken into account while computing the income from housing property as well as [...] Continue Reading »
