Home Buyers Can Now Get More Loan for Property up to Rs 30 Lakh
Oct 09, 2015
Source : NDTV PROFIT

 

Mumbai: Banks can now provide home loans up to 90 per cent for properties that cost Rs 30 lakh or below, the Reserve Bank of India (RBI) said on Thursday.

Earlier, the facility was available only in cases where the cost was up to Rs 20 lakh.

This will benefit those home seekers who plan to buy properties in the range of Rs 20-30 lakh.

The RBI's decision comes in the wake of all major banks reducing interest rate on home loans.

The Reserve Bank of India said in a circular that in case of 'individual housing loans' falling under the category of up to Rs 30 lakh, the LTV (loan to value) ratio is now up to 90 per cent.

For properties above Rs 30 lakh and up to Rs 75 lakh, the LTV is up to 80 per cent and for those above Rs 75 lakh, the ratio comes in at 75 per cent.

Latest Realty News

Slowdown-in-real-estate-hits-Maharashtra-government-coffers
Oct 09, 2015
MUMBAI: Slowdown in the realty industry has affected the revenue collection of Maharashtra government which is already reeling under financial constraints.
Indian-real-estate-aggregator-Square-Yards-opens-office-in-Qatar
Oct 08, 2015
CHENNAI: Square Yards, a real estate startup focussed on the NRI segment, has opened its office in Doha, Qatar. This is the startup's third office in the Gulf Co-operation Council (GCC region) after Dubai and Abu Dh
Festive-season-will-have-little-to-cheer-realty-industry-
Oct 07, 2015
With affordability and safety of investment being the key for home buyers, the latest round of repo rate cut by the Reserve Bank of India (RBI) may see only a marginal improvement in demand and may not act as a catalyst to stimulate sales in this festive season.
Government-Says-REITs-to-Start-Functioning-Shortly
Oct 06, 2015
New Delhi: The Finance Ministry on Monday said it expects newly-created business structure REITs (Real Estate Investment Trusts) to start functioning shortly, a move which will give a boost to the realty sector.
Builders-go-to-CCI-against-cement-companies
Oct 06, 2015
NEW DELHI: The fight between builders and cement manufacturers has reached the Competition Commission of India (CCI), the fairplay watchdog. The Confederation of Real Estate Developer's Associations of India (Credai) has filed a complaint with CCI against cement manufacturers, accusing them of unduly increasing the cost of cement.
Credai-moves-CCI-against-cement-lobby;-NCR-Credai-boycotts-Lafarge;-Ultratech
Oct 06, 2015
NOIDA/ GURGAON: To control the cost of construction and make home prices work for the common man, the Confederation of Real Estate Developer's Associations of India, Credai, has moved the Competition Commission of India (CCI) against Cement Manufacturers who have been unduly increasing the cost of cement. Credai has also highlighted the violation by cement manufacturers of the Commission's "cease and desist" order of 2012. The 2012 order of CCI had held that the cement manufacturers had formed a
Coimbatore-residents-petition-collector-for-action-against-fraudulent-realtor
Oct 06, 2015
COIMBATORE: More than 50 people, of Kavundampalayam, Perianaickenpalayam and Karamadai petitioned the district collector Archana Patnaik on Monday, seeking action against a real estate promoter for swindling 1.50 crore.
SBI-home-loan-customers-to-get-only-50%-benefit-of-cut-in-base-lending-rate
Oct 05, 2015
MUMBAI: The euphoria over State Bank of India's 40 basis point (0.4 percentage point) reduction in interest rates is likely to get watered down considerably for home buyers. India's largest bank has said that the interest rate on new home loans will be only 20 basis points lower -less than half of the 50 basis point reduction in benchmark rates by the Reserve Bank of India.
Real-estate-meet-to-discuss-policies,-foreign-investment
Oct 04, 2015
MUMBAI: A two-day Real Estate & Infrastructure Investors' Summit on October 5 and 6 will discuss policy initiatives and foreign investment norms, key investment themes prevalent in the real estate sector and India's standing as a global investment destination.
Vyapam-scam-suspect-takes-STF-to-Supreme-Court
Oct 03, 2015
BHOPAL: Former president of the Bhopal unit of Confederation of Real Estate Developers' Associations of India (CREDAI) and Vyapam scam suspect Vipin Goel recently submitted CCTV footage of his residential premises before the Supreme Court claiming that no cash was seized by the special task force (STF) on the date as shown on record.

Latest Realty News Of State

Realty Talk's