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adProperty News For July 2011

Towards greater transparency
Source : The Hindu Published On : 2011-07-02 City : Chennai

Towards Greater Transparency

The Confederation of Real Estate Developers' Associations of India's (Credai) 11 {+t} {+h} national conference (Natcon) in Singapore on April 28-29 — held at the Marina Bay Sands convection centre in Singapore — was a high-octane affair, blending both glitz and substance in an event aimed at ‘igniting change in Indian realty.'

It had all the essential ingredients necessary for success: a grand venue, a meticulously drawn up programme, an impassioned plea on the need for transparency in the sector, some 900 plus delegates from all over India, and the obligatory ministerial chief guest in Kamal Nath, Union Minister for Urban Development....

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Serviced apartments an attractive option
Source : The Hindu Published On : 2011-07-02 City : Coimbatore

Serviced Apartments an Attractive Option

The booming industrial, educational, and healthcare sectors in Coimbatore are attracting several visitors to the city. Apart from hotels, serviced apartments also cater to the accommodation needs of these visitors.

Though the facility is available in the city only for the last few years, the demand and growth has led to several small-scale players offering the facility now....

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Several banks raise rates
Source : The Hindu Published On : 2011-07-02 City : Kochi

Several Banks Raise Rates

Several banks have increased the interest rate on loans by half a percentage point.

The higher lending rates will make loans dearer for both new and existing auto, home and corporate borrowers. Punjab National Bank (PNB), Oriental Bank of Commerce (OBC), Bank of Maharashtra (BoM), IDBI Bank, Yes Bank, and Indian Bank have announced the increase in rates. With the increase, the base rate or the minimum lending rate of the PNB, the OBC, the IDBI, BoM, and Indian Bank has increased to 10 per cent and that of the private-sector Yes Bank to 9.5 per cent. Besides, the benchmark prime lending rate (BPLR) of the PNB stands at 13.5 per cent; OBC, 14.25 per cent; IDBI, 14.5 per cent; BoM, 14.25 per cent; Indian Bank, 14.25 per cent; and Yes Bank, 19 per cent. — PTI...

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Interest-rate graph heading north
Source : The Hindu Published On : 2011-07-02 City : Kochi

Interest-rate Graph Heading North

What is in store for home-loan customers? Will it be harder to get a loan following the new anti-inflationary monetary policy of the Reserve Bank of India (RBI)? Do existing borrowers face tough times ahead?

Bankers says the May 3 decision of the RBI to increase the repo rate by 50 basis points will definitely force banks to raise the lending rates by 50-100 basis points, or 0.5-1 percentage point....

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Return money with interest, court tells noida builders
Source : The Hindu Published On : 2011-07-13 City : New Delhi

Return money with interest, court tells Noida builders

Legal Correspondent

The Supreme Court has directed builders in Greater Noida, who accepted bookings for flats from prospective buyers, to return the money with appropriate interest as the notification for acquisition of land allotted to them has been struck down....

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