National Housing Bank
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 »
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 »
Being developed in association by mortgage regulator National Housing Bank and Indian Banks’ Association Greenfield housing projects will soon come under a new rating system. The whole idea of rating intended to encourage lenders to give loans at discounted rates to individuals buying units in projects rated highly by NHB-IBA. It will in turn encourage [...] 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 »
The National Housing Bank (NHB) has decided for the premature closure of its second tranche of public issue of tax-free bonds, this issue opened on March 7 and was planned to close on March 18. NHB got bids for Rs 1,252 crore in all four categories on the first day. The second installment of the [...] Continue Reading »
Even though the demand in the real estate market remains sluggish, property prices have seen a rise. National Housing Bank (NHB) data shows that in the metros, Delhi and Mumbai have recoded property price appreciation of 33.3 per cent and 22.65 per cent, respectively, through the last two and a half years. Jaipur has topped the list of cities [...] Continue Reading »
The Finance Ministry is mulling an option of allowing the long-term funds from such funding institutions to help housing finance companies (HFCs) overcome the asset liability mis-matches. These funds can be channelized to the housing sector either by allowing them to lend to HFCs, or permitting them to invest in Residential Mortgage Backed Securities (RMBS) [...] Continue Reading »
The prices of residential properties in prime cities of India in the Jan-March 2013 quarter have witnessed an upward trend, shows National Housing Bank (NHB) residential index (Residex). NHB Residex records the movement in prices of residential properties on a quarterly basis. NHB Residex presently covers property price data of 20 cities on a quarterly [...] Continue Reading »
Indian companies can access funds from abroad through External Commercial Borrowings (ECB) of different kinds. In general, ECB pertains to commercial loans in the form of bank loans, buyers’ credit, suppliers’ credit, securitized instruments (like floating rate notes and fixed rate bonds, non-convertible, optionally convertible or partially convertible preference shares) obtained from non-resident lenders with [...] Continue Reading »
Delhi: With urbanisation expected to grow at a compounded annual growth rate of more than two percent over the next 20 years, there is a great need to develop better policies to provide mass housing, particularly in the suburbs and satellite towns of metros and Tier I cities. The government has to reform the development [...] Continue Reading »
