Latest Realty News

What happens if a lender takes over a housing project?
Sep 10, 2013
KOLKATA: Last month, the State Bank of India took over a housing project in Kolkata because the developer had defaulted on repayment of dues to the tune of Rs 176 crore. The Teen Kanya project was promoted by the Bengal Shelter Housing Development, a joint venture in which the state housing board has 49% stake. Therefore, its repossession by the SBI has come as a shock for the 400-odd families that have invested in the project.
Lenders cut EMIs, raise tenure to lure home buyers who deferred purchase
Sep 09, 2013
CHENNAI: Dewakar G is looking to shift his home loan to another bank or housing finance company (HFC). Currently, he pays an equated monthly instalment (EMI) of Rs 26,048 on a home loan of Rs 22 lakh - which works out to Rs 1,184 per lakh.
Decoding the 80:20 deal
Sep 08, 2013
MUMBAI: Earlier this week, the Reserve Bank of India cautioned home buyers on innovative home loan schemes, popularly known as 80:20 or 75:25 schemes. The interest in these schemes had heightened in recent months, as builders and developers increasingly found it difficult to access funding. The central bank has clearly nipped the growing interest in the bud. This is because the scheme, in its current form, seems to give a raw deal to home buyers. Read on to understand how.
Orbit Corporation defaults on 96 crore loans
Aug 06, 2013
MUMBAI: Mumbai-based real estate developer Orbit Corporation has defaulted on liabilities of 96 crore, including repayment of loan availed from LIC Housing FinanceBSE -5.13 % and the interest on the amount, joining the list of troubled players in the sector grappling with a severe liquidity crunch.
'Need for lower priced houses a big opportunity for realty'
Aug 01, 2013
DELHI: Low-income urban families need 15 million homes in a price range of Rs 4-10 lakh, presenting an untapped opportunity of a whopping Rs 9 lakh crore for real estate developers, according to a report by Deloitte India.
DLF in talks with PEs and international hotel operators for Aman Resorts sale
Jul 29, 2013
NEW DELHI: India's largest real estate firm DLFBSE -1.25 % has ended its "exclusivity contract" to sell luxury hotel chain Aman Resorts to the original owner and founder Adrian Zecha and has begun talks with a clutch of private equity funds and international hotel operators, which includes Blackstone and Carlyle.
DLF exits from insurance biz; sells 74% stake in DLF Pramerica
Jul 26, 2013
DELHI: Realty major DLF today exited the life insurance business by selling 74 per cent stake in its joint venture DLFPramerica Life Insurance to Dewan Housing Finance for an undisclosed amount.
Banks seek priority sector tag for loans to affordable home builders
Jul 22, 2013
MUMBAI: The Reserve Bank of India is examining a plea by banks to recognise loans given to builders/developers of affordable housing projects as priority sector lending.
India has low mortgage penetration:RBI Dy Guv
Jul 02, 2013
BHUBANESWAR: DWELLING at length on the role of housing as a 'growth driver', Harun R Khan, Deputy Governor, RBI, said that housing has been contributing con­tinuously over the years towards country’s GDP. But, there has been lqw mortgage penetration in India at 7 per cent of GDP with scope for further improvement, he added.
Poddar Developers eyes Rs 500-cr revenues by FY'17
Jun 30, 2013
MUMBAI: Betting big on the increasing demand for affordable housing, realty firm Poddar Developers expects to double its revenues to Rs 500 crore over the next three years, a top company official has said.
Construction delays make buyers pick resale homes
Jun 29, 2013
BANGALORE | DELHI:New home sales may be few and far between, but resale of properties is booming. Sale of such properties is up 40% across the country in the last six to eight months as buyers become more risk-averse looking at the enormous construction delays, property brokers and financial institutions say.
Easier ECB norms to create more affordable housing: Crisil
Jun 27, 2013
MUMBAI: The easing of fund-raising norms through the external commercial borrowing (ECB) route will lead to developers focusing on low-cost housing projects, says rating agency Crisil.
Home loans to get cheaper after RBI cuts rates at last
Jan 30, 2013
If you're planning to buy a home, there's good news around the corner. On Tuesday, the Reserve Bank of India (RBI) announced a long-awaited cut to its main interest rate, goading banks into reducing the cost of housing loans.
Citibank's cash rewards for home loan referrals
Jan 27, 2013
Citibank has introduced a referral programme for its customers in India, offering cash rewards of up to Rs 75,000 if a customer refers his friend or family member to borrow money from Citibank to buy a house. The amount will depend on the loan disbursal.
Home loan growth crashes to 5-month low due to surge in house prices
Nov 05, 2012
MUMBAI: Growth in home loans has slumped to a five-month low despite banks showering potential buyers with attractive schemes and lower rates due to soaring real estate prices.
SBI eyes Rs 2-lakh-cr home loan portfolio by March '15
Oct 19, 2012
SBI’s home loan portfolio has recorded a 73.86 per cent growth against Rs 62,338 crore as on September 30, 2009 The country’s largest bank, the State Bank of India (SBI), is eyeing aggressive targets as it looks at doubling its home loan portfolio over the next three years. “We are hoping to have a home loan portfolio worth Rs 2 lakh crore by March 31, 2015. As on September 30, it stands at
SBI cuts home, car loan rates
Aug 02, 2012
Mumbai, Aug. 1: Retail borrowers will finally have something to cheer about after the State Bank of India (SBI) today slashed its interest rates on home loans by as much as 60 basis points. The rate cut will make housing loans from the country’s largest commercial bank cheaper than those offered by its rivals. The decision was taken at a meeting of its asset-liability committee (Alco). The

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