NHB
The New Central Government is proposing to support for the construction of houses for the middle class and poor people. The estimate is about 7 Crore houses. The mission for the government is low cost affordable housing. This is real good new news for developers. Out of this 7 crore, 31% of the houses are [...] Continue Reading »
Ever since the lofty debacle of gold in 2013, it has barely revived. Last year, gold lost about 28.3 per cent in terms of dollars while 18.7 per cent in terms of rupee. At the beginning of 2014, gold further made a loss of 3.8 per cent in rupees and 3.6 per cent in dollars. [...] Continue Reading »
The third highest increase in property has been observed in Mumbai in comparison to the other major cities over the past seven years. The rise in property is around 129 percent since 2007. Chennai has topped the chart with a 249 percent hike. The other cities that made to the list with an over 100 [...] Continue Reading »
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 »
In association with banks, The NHB will come up with a rating for housing projects to help buyers make informed decisions. Mr. RV Verma, NHB Chairman and Managing Director, says that they require Reserve Banks approval to launch the NHB-IBA rating for real estate projects. They are hoping to launch the rating soon. But they [...] Continue Reading »
Recently RBI extended the deadline for the National Housing Bank (NHB) to raise funds through the external commercial borrowing (ECB) route, by six months. The central bank had allowed NHB and housing finance companies to collect funds up to$1 billion through this route to finance affordable housing loans up to Rs 25 lakh. Mr. RV [...] 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 »
The National Housing Board (NHB) shall raise $200 million through ECB (external commercial borrowing) within the next fortnight. This will ensure will ensure that home loan players meet the $1 billion target of foreign fund raising in FY14. NHB regulates pure-play home financiers. It refinances a part of the housing finance portfolios and acts as [...] 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 »
Kerala-based gold loan firm Manappuram Finance has diversified with the acquisition of Milestone Home Finance Company from Jaypee Hotels. VP Nandakumar, MD & CEO of Manappuram Finance informed that entire acquisition would cost the company Rs 10 crore. He added that the acquisition would result in diversification of the group into home finance. The group’s [...] Continue Reading »
