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FIXED-RATE LOAN IS BACK!
Source: The Times of India Nov 08, 2014
After a long time, the fixed rate home loan is back in the MARKET. Over the last few years, the interest rates on housing loans have been gradually increasing. Even though they stabilized over the last couple of years, there were not many banks offering a fixed-interest rate loan. In case of a fixed-rate loan, the rate of interest is decided before hand at the time of availing the loan.The rate remains the same during a fixed part of the tenure of the loan irrespective of the MARKET rates. In case the interest rate goes up, the borrower still pays the prior agreed lower rate. In case the interest rate goes down, the borrower loses as he has to pay a higher rate com pared to the MARKET rate. ... more
Land acquisition law may be eased for PPP projects
Source: Business Standard Nov 05, 2014
The National Democratic Alliance government is planning to exempt public-private partnership (PPP) projects from the need to obtain consent of affected families and the mandatory social-impact assessment, through amendments to the land acquisition law. In the Bill put up by the previous government and passed by Parliament, PPP projects need consent of 70 per cent of affected families and have to study the social implications in the neighborhood. ... more
Jaitley calls for interest rate cut, says it will trigger growth
Source: The Times of India Oct 24, 2014
For the first time in four months, finance minister Arun Jaitley has called for a reduction in interest rates, saying lower rates would trigger demand for homes. "Currently, interest rates are a disincentive. Now that inflation seems to be stabilizing somewhat, the time seems to have come to moderate the interest rates," ... more
KMC vows to amend building rules
Source: The Times of India Aug 24, 2014
Kolkata Municipal Corporation (KMC) is bent on amending its building rules to regularize minor deviations by the middle class The civic body plans to amend its rules in case of violations like additional constructions or renovations to the houses. The move comes inspite of a Calcutta high court order restricting KMC from legalizing unauthorized constructions against a penalty. While the court said that KMC cannot regularize illegal buildings against a penalty, the buildings department earned Rs 55 crore in 2013-14 as penalty from such regularizations. ... more
Cost of houses pretty high, scope for reduction: RBI's S S Mundra
Source: The Economic Times Aug 20, 2014
Stating that home prices are high, Reserve Bank deputy governor S S Mundra today said there is a need for price correction, especially given the high inventory levels with developers. "I believe there is enough scope for home prices to come down from the higher perch because of huge inventory pile-up in several markets," he said addressing a gathering of realty players in the financial capital. ... more
Industry welcomes SEBI’s approval on REIT
Source: The Times of India Aug 13, 2014
The Securities and Exchange Board of India (SEBI) approved the setting up of real estate INVESTMENT trusts (REITs), a move that may offer a new source of financing to India’s cash-strapped property developers. Anuj Puri, chairman & country head, JLL India – With the stamp of approval by SEBI, REITs are finally a formalized concept. This is a big change from the ambiguity and uncertainty that prevailed about this very important instrument in previous years. It is gratifying to note that SEBI fully intends to deliver on its assurances of bringing better and faster FUNDINGinto Indian real estate. ... more
Real estate investment trusts: Pros and cons
Source: Business Standard Aug 12, 2014
The real estate industry received a much-needed boost recently when the Securities and Exchange Board of India (Sebi) finally cleared guidelines for the real estate investment trusts (Reits). This gives the cash-strapped industry a new route to tap capital. Real estate is notorious for the number and size of the bubbles it creates. The global financial crisis of 2007 and its sequel, the crisis of 2012, were both sparked off by real estate bubbles. The price of the same land can vary a lot, depending on sentiment. ... more
Tips to get a good deal from resale property
Source: The Times of India Aug 11, 2014
An apartment that you can move into within days, with all the logistics taken care of and no new apartment hiccups - is this what you are looking for? Then buying a re-sale property is your best option. Magicbricks takes a look at some of the things that you need to look at to make an informed decision. ... more
5 smart things to know about Real Estate Investment Trusts
Source: The Economic Times Aug 11, 2014
Here are five smart things to know about Real Estate Investment Trusts. 1. REIT is a special investment company that invests money obtained from investors directly in real estate, either through properties or via mortgages. 2. Investors receive the income from rent obtained from underlying properties as well as capital gains when properties are sold. ... ... more
Sebi clears REIT, InvIT norms; players want clearer tax rules
Source: The Financial Express Aug 10, 2014
While giving property players enough room to float Real Estate investment Trusts (REITs), the final guidelines for these listed investment vehicles, announced by the capital MARKETS regulator on Sunday, also build in adequate safeguards for investors. As such, the minimum size of assets that a REIT must have, to be able to float an initial offer, has been halved to Rs 500 crore from the originally envisaged R1,000 crore; the lower threshold is expected to encourage mid-sized developers to participate. ... more
Credai to work towards ‘Homes for All’ mission
Source: The Hindu Business Line Aug 08, 2014
The Confederation of Real Estate Developers’ Associations of India (Credai) has decided to work towards the theme Homes For All by 2022. The meeting of the apex body representing private real estate developers in the country that was held during August 6-8 laid special thrust on the mission of pucca housing for all by 2022. ... more
Mamata wants to pay less for land near cities
Source: Business Standard Aug 07, 2014
West Bengal Chief Minister Mamata Banerjee, whose agitation over land acquisition for industry catapulted her to power, is reluctant to recompense those losing land at rates set by a central law. West Bengal is yet to implement the Right to Fair Compensation and Transparency in Rehabilitation and Resettlement Act, 2013, the law that replaced the Land Acquisition Act of 1894, on January 1 this year. The new law requires state governments to offer four and two times the market value of land being acquired in the countryside and around towns, respectively. ... more
Huge shortage in affordable housing
Source: The Times of India Aug 01, 2014
A study says that there is a shortage of 26 million houses in the country in the affordable category with supply very limited because of high land cost, low FSI, and expensive capital. Demand for housing in the country is very high and more than 85% of this comes from house holds of the Economically Weaker Sections (EWS) and Lower Income Groups (LIG). ... more
Choosing a good real estate agent who fits your luxury
Source: The Times of India Jul 23, 2014
There are several independent ways of getting a good buyer (or seller) but a good real estate agent is a professional whose expertise can add extra value to your search. ... more
Affordable housing to be cheaper, thanks to RBI
Source: The Times of India Jul 17, 2014
Sentiments across the real estate sector echoed in unison that implementation is the key for the excellent budget proposed by the Finance Minister this month. Just days after the budget day, RBI has taken the first step towards implementing one of the most pressing issues - affordable housing! ... more
Realtors hail RBI move to ease norms for affordable housing
Source: The Economic Times Jul 15, 2014
Realtors' body CREDAI today hailed the RBI's move to ease norms for banks to raise long term funds for financing affordable housing, saying this will lead to cheaper credit for such projects. In order to encourage infrastructure development and affordable housing, RBI today exempted long term bonds from mandatory regulatory norms like CRR and SLR if the money raised is used for funding of such projects. ... more
Budget 2014: Glass half full for real estate
Source: The Times of India Jul 13, 2014
As the much-awaited Union Budget 2014-15 got tabled in the parliament, the real estate sector was left in the lurch as some of its expectations were fulfilled, while some were left out. “Finance Minister Arun Jaitley’s maiden budget was a glass half empty and half full with hope. However, some expectations are left out,” says Lalit Kumar Jain, chairman, CREDAI while describing the budget. ... more
Industry reacts on Jaitley’s maiden budget
Source: The Times of India Jul 13, 2014
As Finance Minister Arun Jaitley tabled maiden budget in the parliament, the expectations of real estate industry soared high. Industry stakeholders welcomed the much anticipated Modi govt budget and desires for more “Acche Din”. Brotin Banerjee, MD & CEO, Tata Housing – “Tata Housing Development Company (THDC) welcomes the announcement of the Union Budget 2014-15. Focusing on fiscal prudence, this budget has introduced proposals that may help to kick-start investments in the real estate sector. ... more
Realty sector looking for better days
Source: The Times of India May 30, 2014
The Union minister for Housing and Urban Poverty Al leviation, M Venkaiah Naidu, promised that the top priority of his ministry would be to set up 100 new smart and safe cities in the country. Another priority is housing for all by 2020 for which Public Private Partnership (PPP) as well as Corporate Social Responsibility (CSR) will be encouraged. ... more
Salt Lake most preferred rental locality in Kolkata
Source: The Times of India May 30, 2014
Salt Lake, considered to be the bustling IT hub of Kolkata, has retained its top position for two consecutive quarters (Oct-Dec 2013 and Jan-Mar 2014) in the list of most preferred rental localities in the city, according to PropIndex, the quarterly research publication of Magicbricks. The locality also saw a 6 per cent rise in the rental values in the Jan-Mar 2014 quarter. ... more
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