Track2Realty: The finance ministry is reportedly working on the modalities to revive the real estate sector. According to ministry sources, the move is aimed to ensure that stalled projects get bank sector financing. The move, which is expected to help revive growth, is likely to be decided over the coming weeks.
The National Housing Bank (NHB), regulator in the realty finance sector, is expected to take a decision soon on whether or not there will be a complete waiver of all pre-payment charges on floating-rate home loans.
Ever since the National Housing Bank (NHB) started preparing residex – an index for tracking the prices of residential properties in 2007, Chennai has been in the news for steep increase in residential prices.
The National Housing Bank (NHB) and Indian Banks’ Association (IBA) are jointly preparing the norms, standards and procedures for real estate valuation.