News Updates
India sees 26% rise in home loans in January-June 2021
Housing loan borrowers are making the foremost of the present record-low rate of interest regime as indicated by a 42% on-year surge in demand for Balance Transfers (BT) and 26% rise for home loans within the half of 2021. Loan Against Property (LAP) during this period has also witnessed a 20% rise. The soaring demand is essentially attributed to the Reserve Bank of India’s decision to stay the repo rate unchanged at a continuing 4%. This has allowed many banks to supply home loans at
Women Home Buyers On The Rise
In the last few years, several initiatives were taken to help women be more financially independent and successful home-owners, from making it mandatory to have a woman co-owner when applying for a home via PMAY to offering additional stamp duty cuts in select states. The efforts seem to be bearing fruit. According to a recent report by Knight Frank India, women home-buyers constituted 6.6 per cent of the total new home sales in Mumbai BMC region in April 2021. In May 2021, the number
19,000 buyers of Unitech flats to get possession in 4 years SC informed
In a big relief to more than 19,000 homebuyers who booked flats around a decade back in Unitech but still await possession, the Centre appointed board of directors told the Supreme Court on Tuesday that the real estate firm, which has been in a financial mess, is set to be revived and flats will be handed over in a phased manner in four years. The erstwhile management of the group, led by its promoter Sanjay Chandra, was removed by the apex court after it was found that a large amount of
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