Reserve Bank of India
Real estate firms and property consultants today expressed disappointment over RBI’s decision to keep rates unchanged. There were no change in the rates in previous policy announcement and the real estate sector was expecting a rate cut this time around. Experts maintain that the sector urgently needs cut in interest rates to boost housing demand. [...] Continue Reading »
It may have become the case that it is cheaper to buy a flat abroad such as in Dubai than at a posh location in Mumbai or in Delhi. The property price deflation in foreign countries since 2009 has given opportunity for Indians to buy houses abroad. Of late, most Indians seem to buy under-construction [...] Continue Reading »
While banks are being unwilling to provide real estate loans, the Reserve Bank of India has been following a cautious policy to reduce risks associated with realty sector and to ensure that the sector remains sustainable and viable over a long period of time. National Housing Bank (NHB) has also played its role in de-risking [...] Continue Reading »
India has witnessed a rise in number of NRIs investing on properties. The dollar appreciation has given a further push to demand from NRI’s for investment in residential properties. With the real estate becoming cheaper for NRIs, many seek to invest in residential properties in two-tier cities such as Pune, notes Om Ahuja, CEO – [...] Continue Reading »
The Reserve Bank of India was expected to cut the lending rate by at least 0.25 per cent while lending rate has been kept unchanged at 8 per cent. The RBI was also expected to cut CRR to introduce liquidity in financial system, but the CRR remained same at 4.74 per cent. RBI has raised [...] Continue Reading »
The Reserve Bank of India ordered all the banks to stop charging penalty on prepayment of home loans taken on floating interest rates. The order is circulated after the Damodaran Committee had observed that foreclosure charges levied by banks on prepayment of home loans were resented by home loan borrowers. The removal of the charges [...] Continue Reading »
The Reserve Bank of India said that it has more headroom to reduce rates following a drop in oil prices which reduces pressure on inflation. RBI deputy governor said that the central bank today has more room to cut interest rates. Factors suggesting more room are growth somewhat lower than expectations that may have a [...] Continue Reading »
The draft Real Estate (development and regulatory) Bill has suggested that every builder must maintain escrow account for customer advances and all third-party liabilities so that proper monitoring and use of proceeds is ensured in real estate projects. Last year, the Reserve Bank of India, too, asked banks to put in place an escrow mechanism [...] Continue Reading »
The Reserve Bank of India has brought about many new directives and guidelines for taking Home Loans. The most controversial decision was the exclusion of stamp duty, registration fees and all other allied charges while calculating the loan to value when taking a home loan. The loan to value is the loan amount taken against [...] Continue Reading »
The number of unsold homes in Mumbai and Delhi is increasing and these homes do require minimum of three to four years to be sold. A recent study by Liases Foras, a real estate rating and research consultant firm says that it takes at least three years to clear 1.13 lakh units or 120 million [...] Continue Reading »
