With real estate prices dropping, action is hotting up in the home loan market. State Bank of India (SBI), the country’s largest lender, today said that it had improved upon its home loan scheme and would offer home loans starting at 8per cent in the first year before rising 100-150 basis points in the second and third years. Earlier, SBI had only fixed interest rates during the first year of the tenure of the loan.
In addition, the bank has offered to levy interest on a reducing balance basis and has waived the processing fee for home loans taken up to September.
Within a few hours of SBI’s announcement, LIC Housing Finance, the country’s secondlargest mortgage company, said it was reducing the interest rate on floating rate loans for existing customers by 50 basis points....
Affordable housing is not about box-sized units in far-flung places, but homes within the budget of 60 per cent of urban fam
IT IS the latest fad among real estate companies. Builders, big and small, look ataffordable housing as the saviour that would pull them out of the abyss. Leading developers like DLF, Parsvnath, Unitech, Tatas, Puravankara and Akruti are banking on volumes this segment promises to generate.
The 11th Five-Year Plan estimate of a shortage of 24.7 million units in urban housing, mainly for economically weaker sections (EWS) and the lower income group (LIG) has added to their excitement and expectations....
Prestige Group ties up with Singapore-based real estate company to set up Forum Value Mall in Whitefield, near Bangalore
Prestige Group has partnered with Singaporebased real estate company CapitaLand Retail to launch India’s first mall that would house brands in the factory outlet format. Called Forum Value Mall, it would be located at Whitefield on Bangalore’s IT corridor.
S Raghunandan, chief executive officer of retail, Prestige Group, told FC Estate that the company has...