RBI
Mumbai has 104 million sq ft of unsold real estate. The slowdown in real estate sales in Mumbai may have intensified due to higher interest rates, which could pressure developers to bring down prices. This may not be a worrisome trend as sales are low during monsoon. Pressure will start building up only when the [...] Continue Reading »
Builders in Noida Extension have assured existing buyers that they do not have to incur any additional expenditure due to the ongoing land row. The builders say that new home buyers may have to shell out more than the current prices to cover the losses incurred by them if additional compensation is paid to villagers. [...] Continue Reading »
Banks are a large source of funds for the housing finance companies (HFCs) and an increase in their lending rate would push up the cost of funds for the HFCs. Since the latest round of monetary tightening by RBI last week, a host of banks and lending institutions have raised their rates and HDFC is [...] Continue Reading »
According to recent finance ministry data that captures the performance of public sector banks, instances of home loan defaults contributing to gross non-performing assets (NPAs) was the highest in the category of loans up to Rs 2 lakh. The figure stood at six per cent in 2010-11, slightly lower than 6.4 per cent in 2009-10. [...] Continue Reading »
Interest rates on all loans will go up. However, there could be some cheer for savings bank account holders as the RBI simultaneously increased interest rates on savings deposits If you were eyeing that swanky house or a cool set of hot wheels, prepare to shell out more to live your dream. Interest rates on [...] Continue Reading »
Reserve Bank Deputy Governor Subir Gokarn welcomed the budget proposals to check fiscal deficit by keeping a tab on the subsidy bill, saying they are the right steps towards fiscal consolidation and offer the central bank more leg-room on monetary policy front. The Budget proposed to bring down fiscal deficit to 4.6% next fiscal from [...] Continue Reading »
The Reserve Bank of India on Tuesday said Non-Resident Indian (NRI) would not be eligible for incentives on interest on home loans of up to Rs 10 lakh. The central bank said in a notification. The central bank said the notification follows the recent clarifications issued by the government. The government, in the Budget of [...] Continue Reading »
RBI’s decision to hike policy rates will affect the sentiment of the property market, but will not have any major impact on demand The hike in repo and reverse repo rates by 25 basis points will have a sentimental impact on demand. Real estate developers and consultants on Tuesday said RBI’s decision to hike policy [...] Continue Reading »
Housing prices could fall by up to 20 per cent in Mumbai and Delhi-NCR sooner than expected if RBI raises key rates in its upcoming monetary policy review, says a report by property consultant Jones Lang LaSalle . It is widely expected that the apex bank would increase the key policy rates by up to [...] Continue Reading »
The RBI said in a notification that Banks are permitted to change the benchmark and methodology used in the computation of Base Rate for a further period of six months.Earlier, banks were given time till December 31 to adopt the new method for computing base rate. Base rate is a new system of lending money [...] Continue Reading »
