India’s housing market has struggled for growth in recent years and if the central bank raises interest rates this week, there could be a further slowdown in the sector, experts told CNBC. A rate hike would “definitely have a negative impact” on the housing market outlook, Ramesh Nair, CEO and country head at real estate […]
By Anuj Puri, Chairman – ANAROCK Property Consultants In any discussion about affordable housing in India today, the fact that a lot of such housing is actually lying vacant is bound to crop up. One may point out that, especially with the Government’s avowed intention of providing Housing for All by 2022, this supply should logically […]
By Realty Quarter Bureau Housing loans of up to Rs 35 lakhs, for dwellings costing less than Rs 45 lakhs, will be treated as priority sector lending (PSL), to give a fillip to the low-cost segment, the Reserve Bank said, on June 19, 2018. PSL loans are relatively cheaper than market interest rates. “With a […]
By Realty Quarter Bureau The government’s move to hike the carpet area of homes eligible for interest subsidy under the Pradhan Mantri Awas Yojana for the middle-income group, will give a much needed push to home sales, especially in tier-II and III cities, say experts The Ministry of Housing and Urban Affairs, on June 12, […]
By Realty Quarter Bureau Financial Services firm Inditrade Capital plans to foray into housing finance segment with focus on promoting affordable housing. “We have applied for licence. The applications (are filed) with the regulator National Housing Bank and we are awaiting approval,” Inditrade Group of Companies Chairman Sudip Bandyopadhyay said. Housing finance business will be operated through a separate subsidiary and aims […]
By Realty Quarter Bureau India Mortgage Guarantee Corporation (IMGC) signed an MOU with State Bank of India to offer mortgage backed home loans. “This tie-up will enable us to improve housing loan volumes in non-salaried segment,” said PK Gupta, MD (Retail & Digital Banking), SBI. The bank will offer the said home loan to non-salaried and self-employed customers. “Taking such […]
By Realty Quarter Bureau The Union Cabinet chaired by the Prime Minister Shri Narendra Modi has given approval for creation of National Urban Housing Fund (NUHF) for Rs.60, 000crores. This fund will be situated in Building Materials and Technology Promotion Council (BMTPC), an autonomous body registered under the Societies Registration Act, 1860 under the Ministry of […]
By Nimisha Gupta Editor-in-Chief Shri Ashok Mohnani, CMD of EKTA WORLD pioneer in the Real Estate Sector talks about why his brand is one of the most looked up amongst the home buyers, effects of new reforms, the impact of GST on Housing sector . Q1 What makes Ekta World the true leader in the […]
MUMBAI: Major state-owned banks have begun preliminary discussions to evaluate the potential for offering home loans to individuals lacking traditional income documentation, employer certificates, or tax returns. Unlike standard disbursements under ‘affordable housing’ initiatives, this new approach would assess applicants’ income through unconventional means, such as examining the transaction activity of a street vendor via […]
NEW DELHI: According to RBI data on “Sectoral Deployment of Bank Credit,” credit outstanding to the housing industry increased by around Rs 10 lakh crore over the previous two fiscal years to reach a record Rs 27.23 lakh crore in March of this year. This increase in outstanding home credit was ascribed by real estate […]
