Track2Realty: Real estate investors as well as developers in the Delhi National Capital Region (NCR) had been cautiously awaiting the results of the recently concluded General Elections to ascertain the future mood of the market. Having been elected with a full majority, the new government will hopefully usher in a stable regime at the center, which will definitely have a positive impact on the real estate sector too.
Track2Realty: To simplify the process of home buying for its customers, Kumar Urban Development Ltd (KUL) is organising a ‘Home Loan Mela’ at its project sites – KUL Ecoloch and KUL Nation – on September 27th , 28th and 29th.
Track2Realty-Agencies: The deepening economic slowdown, rising cost of living and low wage revisions, coupled with higher interest rares, are forcing salaried professionals who had earlier invested in properties to put them up for sale, say industry experts.
Track2Realty-Agencies: RBI has asked banks to link the disbursal of home loans to stages of construction to protect the interests of buyers and contain the fallout of “innovative” housing financing schemes.
Track2Realty: Central Bank of India is looking ahead to cloak a total business of Rs 10,000 crore from home loan segment. The bank has been aggressively targeting prospective home seekers through its various initiatives.
India is reeling under the continued onslaught of inflation, petrol price hikes and generalized insecurity about where the economy is headed. Against all expectations, property prices in our metros have held firm and even show signs of upward movement. While the man on the street continues to wonder when he will be able to buy a modest home of his own, India’s super-rich are raising palatial homes at truly astronomical expense.
With interest rates remaining high and real estate prices rising further, the growth in housing loans declined to 12.1 per cent in fiscal 2011-12 from 15 per cent in the previous year. The growth rate in non-food bank credit was also down at 17 per cent during the year as compared with 20.6 per cent in the previous year, the Reserve Bank of India said.
When the Reserve Bank of India (RBI) was to announce its annual monetary policy for 2012-13 on 17th April, there were widespread concerns of slowing economy, rising inflation, trade deficit of 4 per cent of GDP and drying FDI too emerging as a grace concerns
Real estate developers rallied on Tuesday, April 3, as some banks have cut home loan rates for new borrowers, sparking hope of increased property sales in the country.
What Government can look at is to increase the demand and continue interest reduction in housing or enhance the deduction limit. Government can also provide special tax incentives for budget housing.