Real Estate News
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Homes Loans to Get Cheaper as SBI and HDFC Bank Lower Base Rates
RBI rung the festive season with further reduction in repo rates. This is the fifth consecutive reduction that the RBI has made this year. The aim of the reductions is solely to revive the real estate sector of the country that has been reeling with slow sales across the country. Repo rates are changed every two months depending on various factors. Even though the RBI encouraged the public and private sector banks failed to pass the benefits of reduced repo rates to the loan borrowers. Keeping this in mind, the banks came up with repo linked interest rate system. The loan borrowers will be able to enjoy the reduced repo rates now. Whenever...
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Everything you Need to Know Before Taking Advantage of the Festive Offers
The festive season is the best time for potential buyers to invest in the real estate sector. The incredible deals and offers make it hard for the buyers to pass. Even the buyers who are observing the market from the distance and are on the fence for buying a house, are tempted to step into the real estate sector. The festive season has begun with RBI reducing their repo rate and directing the private and public-sector banks to link their loan rates with the repo rates so that the borrowers can enjoy the reduced rates. Following the directions, the banks have introduced the repo rate linked interest rates. Major banks in India like SBI...
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Developers Start The Festive Season With Great Offers
Buying a house is a one-time decision for most of us. Investing all your life savings, and being in debt to the loan lender for years to come, is not an easy decision to make. The current scenario of the real estate sector has made it difficult for the potential home buyers to get into it and make the decision. Government has been making conscious efforts to revive the real estate sector of the country. From tax benefits to lower interest rates, they are leaving no stone unturned to revive the industry. Even the developers have a lot of unsold inventory and what better time to sell them off than the festive season. The sales of the real...
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Key Announcements on the Way for the Affordable Homes
Affordable housing has been on major interest among the potential buyers and keeping the same in mind the government is planning to expand the scope of ‘affordable housing’ by including the projects that cost op to Rs 50 lacs to Rs 55 lacs. According to the reports, it will help the homebuyers to enjoy the subsidy even more along with reviving the real estate sector from the slump it has been witnessing. The Budget 2019 did not confer real estate sector the much-awaited industry status but the government has been making enough efforts to make sure that beneficiaries save more on the affordable homes segment. PMAY announcements in ...
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All Eyes on Government During the Festive Season
When it comes to home buying, most Indian prefers buying and investing in property during the auspicious time of the festivals. The months from October to January are the festival season and the home buying during this time increases by folds. The developers take advantage of the same as well and provide many offers to grab the attention of the potential home buyers. Some developers provide discounts while some waiver the registration and stamp duty charges. Some offer foreign tour while others offer extra benefits that can help the home buyer like providing few appliances etc. Although, given that the real estate sector of the country...
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SBI to Link the Home Loans with Repo Rates from October 1st
India’s biggest bank, State bank of India, said that they would link the repo rates to the home loans from October 1st, 2019. The news came on September 23rd, stated that the bank would link the repo rates to the floating rates of interest for micro, small and medium enterprise, home and retail loans. Since RBI has urged the banks to provide the loan borrowers the benefit of reduced home loan rates, SBI became the first bank to introduce the repo rate based home loan rates. On September 4th, RBI directed all the banks to link the repo rates to the rate of interest for the benefit of the customers. Reduced rates of interest: RBI has b...
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FM Announces Rs 20,000 Crore Funding for Projects Stuck in the Middle
On 14th September, the Finance Minister, Nirmala Sitharaman, announced few more measure to revive the slow real estate market. The primary concern for the buyers has been the projects that are stuck for resolution as they have run out of money. To solve the issue, the Finance Minister announced the finding of Rs 20,000 crore for the projects that are stuck in the middle. The government of India will invest Rs 10,000 crore, and the outside investors will contribute the same amount. The funds allocated will be managed by the professionals of housing and banking sector. The main object behind the move is the finish the stalled projects and to gi...
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This Festive Season Brings Joy to the Potential Homebuyers
Buying a house is a once in a lifetime investment for most of us and what better time to buy the property during the festive time. According to the reports, the sales of the properties peak from October to December. It starts during Navratras and goes on till new years. The developers also come up with various offers and discounts to boost sales during this time of the years. We list down the things that one can expect from the festive season and the things one shouldn’t: What to expect this festive season if you are a potential homebuyer? Recently RBI has reduced their repo rates, and it is at an all-time low at 5.4%. The RBI has u...
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SBI Cuts the Interest Rates to 8.15 Percent
The Reserve Bank of India brought down their repo rates urging the public and private sector banks to reduce their loan rates as well. This is the fourth time in the year that RBI has reduced their repo rates. Previously the loan borrowers were not getting the benefit of RBI reducing the repo rates, and the government took the measures in the step and asked the banks to link their repo rates to the interest rates. The biggest bank in India, the State Bank of India, has followed suit and reduced their home loan rates. The one-year marginal cost of fund-based lending rate (MCLR) to 8.15 percent by implementing the ten basis points reduction....
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Online Database of Indian Cities to be Created by 2024
The government of India has been making continuous efforts to revive the real estate sector of the country. And in another bid forward towards it, the government of India has decided to create an online database of the Indian cities by 2024. The database will be available to everyone free of cost and will focus on all the minute details of the cities, including infrastructure, education and health facilities, etc. However, the Union Housing and Urban Affairs Ministry (HUA) might plan ‘Exchange of Database’ scheme under which the agencies might charge for commercial use of data. By March 2020, the first phase of the website will laun...
