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adProperty News For July 2009

Sbi improves its home loan offer
Source : Business Standard Published On : 2009-07-01 City : Mumbai

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....

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House for mr india
Source : Financial Chronicle Published On : 2009-07-02 City : Chennai

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....

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Betting big on affordable housing sops
Source : Financial Chronicle Published On : 2009-07-02 City : Chennai

Real estate sector is hoping budget will provide incentives for mass housing projects

SUPRIYA UNNI REAL estate sector expects the government to come up with incentives in the budget that

will put it on the recovery path....

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A mall for branded factory outlets
Source : Financial Chronicle Published On : 2009-07-02 City : Bangalore

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...

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Ozonegroup launches township in cennai
Source : Financial Chronicle Published On : 2009-07-02 City : Chennai

Spread across 42 acres, project to have 26 residential towers, commercial complex, hotel, multiplex and office space


BANGALORE-BASED real estate company Ozonegroup has launched an integrated development

project, The Metrozone, in Chennai at an estimated cost of Rs 2,500 crore. ...

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