Real Estate News
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SBI Cuts Down the Interest Rates Making Home Loans Cheaper
The biggest bank of the country, State Bank of India, has recently announced a further reduction in the basis points. The lender reduced the basis points by 5 in its Marginal Cost Lending Rate (MCLR) across tenors. This is the seventh reduction this year in the MCLR rates, thereby reducing the home loan lending rates to 8.05 percent. Back in October the bank also announced the repo rate- linked lending rates following the direction of Reserve Bank of India. Other public and private sectors banks have followed the suite and have further reduced their MCLR rates. In October, HDFC reduced their floating rates by 10 bps. The new rates offere...
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According to RBI Survey, Prices have Gone Up
The experts have been pointing it out for a while that the country’s economy has been deteriorating in the past few months. The has been proved by the Consumer Confidence Survey conducted by RBI, the result for which was unveiled in October 2019. The survey had participants from 13 different cities of the country: Delhi, Chennai, Bhopal, Bengaluru, Guwahati, Hyderabad, Jaipur, Ahmedabad, Lucknow, Kolkata, Trivandrum and Mumbai. The idea behind the survey was to gauge the sentiment of Indians regarding the current situation of employment, prices and income cycle in the country. The study revealed that consumer confidence has weakened with...
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Indian Real Estate Suffering From Poor Buyer Sentiment
The Indian real estate market has been suffering from slow sales for a while now. The prices of the properties have reached a reasonable limit where it is more affordable for the potential buyer to get into the real estate of the country. The prices have remained unchanged in the key markets of the country for the buyers who have been on the fence watching the market and finding the right time to invest in the property, this may the right time as the loan lenders are offering lower interest rates thanks to the repo rate reduction by the Reserve Bank of India. The government has been making efforts to boost the sales in the real estate ...
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RBI Report Suggests New Standards in Housing Finance Securitization
One can point out many issues that are the reason for the current crisis in the Indian Banking system. According to the panel of Reserve Bank of India, the lenders suffer heavily due to the mismatch in the maturity period of various home loans among other issues. The panel submitted their report in September this year and has suggested some solutions to the issues that the banking industry is facing. Relaxation in the stamp duty: the immovable properties, the mortgage-based transactions can be exempted from the stamp duty charges. The banks can exempt the registration of such loans as well. Separate guidelines: to the report submi...
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India’s Realty Still Suffering from the Buyer Sentiment
The slowdown of the demand in the real estate market of the country has led to a reasonable deduction in the prices of the property across the country. Barring few exceptions, the rates have been the same for most of the property market. The repo rate deduction has defiantly cheered the banks and the loan lending financial institutes. At 5.15 percent, the repo rate is the lowest it has been this decade. The loan lending rates offered by the banks have reduced which is expected to hike the demand in the real estate sector. Investing in the affordable segment, i.e., property costing Rs 45 lacs and below, will surely reduce the cost of the...
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RBI Reduces the Repo Rate to 5.15 Percent
The festive season is the time when most Indians prefer to buy the property. The festive season begins from Navaratras and lasts till January and most potential buyers prefer to jump into the real estate sector during this auspicious time. To make the festive season sweeter, the RBI has reduced the repo rates to 5.15 percent which will further reduce the home loan rates. The RBI reduced their repo rate by 25 basis points on October 4th, bringing smiles and cheers to the potential buyers. For the buyers who have been on the fence whether to invest in the property or not, it is the right time to take advantage of the lower interest ra...
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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 ...
