Affordable housing finance, largely dealing in loan ticket size of up to Rs 15 lakh, will become a large segment for housing finance companies (HFCs) in the next five years, with its market share estimated to increase to around 37 per cent in FY2022, the rating agency said.
Total housing credit growth moderated to 16 percent in the financial year 2016-17 due to lack of new project launches as investors deferred their home purchase decisions
In an interview to CNBC-TV18, Ashok Tyagi, Group CFO of DLF spoke about the latest happenings in the company as well as the takeaways from the RBI policy yesterday in terms of home loans becoming more affordable.
EPFO has asked regional offices to establish contact with the state housing boards and urge them to allot unsold units to provident fund subscribers.
Financial Planners say withdrawing PF to finance life’s goals should be a well-considered move and the last among all financing options
Funds in EPFO can be used to buy units in non-governmental as well as governmental housing projects.
It is targeting to disburse up to Rs 10,000 crore under this in the current financial year, a senior Nabard official said.
Home loan interest rates have reduced significantly on the back of huge inflow of deposits in the banking system and creating a good atmosphere for end-users. Homebuyers can now purchase homes of their choice by making full cheque payment.
GST will not be charged on completed apartments or on rental income received by a landlord from a tenant for a residential unit. In case of commercial properties on rent, a service charge of 15% is currently levied as service tax. This will be replaced by GST.
Low home loan rates have improved affordability for most income groups and have made purchase of property viable. Demand-supply mismatch is also likely to push real estate prices higher. To wait further will be a fallacy on the part of home-buyers, Getamber Anand, President, Confederation of Real Estate Developers’ Association of India (Credai) said in an interview to Moneycontrol.
The monthly home loan installment (EMIs) will soon come down by almost Rs 2000 if your first home falls in a city or town under the Pradhan Mantri Awas Yojana (PMAY) and if you fall in the income bracket of Rs 12-18 lakh.
In a fillip to middle income families in search of their dream home, the ministry of housing & urban development has set the ball rolling on the credit-linked subsidy scheme or CLSS for middle-class families. 70 lending institutions and housing finance companies have been asked to operationalise the scheme.
Just like many of the State Budgets this year, Maharashtra's Budget 2017 does not add any new tax to the mix. But taking a leaf from the union budget, this budget focuses on 4 key areas: the state's economy, infrastructure, housing and agriculture. CNBC-TV18'S Yash Jain and Areeb Sherwani report on how industry is reacting to the Budget.
The government will amend EPF scheme to enable withdrawal of up to 90 percent of their fund to pay for home purchases.
NBCC has won Rs 250 crore order from the Mauritius government to build the new Supreme Court building. The company has been appointed as the project management consultant.
Naidu, who is also the Minister of Housing and Urban Poverty Alleviation, also asked states to waive stamp duty for affordable housing projects and rationalise it for others.
The demonetisation demon has come to haunt banks as their meal ticket retail loans have taken a hit by slower growth during the three months starting November.
Retirement fund body EPFO will launch a housing scheme next month for its over four crore members to enable them to make down payment and pay EMIs from their EPF accounts to buy homes.
Dipen Sheth, Head-Institutional Research, HDFC Securities is confident that with the current government in power, the politics and economics will converge. So the themes that would play out over the next two years would be housing, agriculture and rural infrastructure.
The stock of unsold houses however fell marginally by 1 per cent to 4,53,592 units in Gurgaon, Noida, Mumbai, Kolkata, Pune, Hyderabad, Bengaluru and Chennai from 4,59,067 units in the previous quarter, said PropEquity, a real estate data, research and analytics firm.
JC Sharma, vice-chairman and managing director of Sobha Ltd, has been witness to the emergence of Bengaluru as the country‘s top realty destination. It is not just the business potential of the city that R
The real estate sector appeared to be in doldrums after the government's historic decision to undertake demonetisation. But the move appears to have infused a fresh lease of life in the country's budget housing segment.
"Such action will allow developers to borrow at lower interest rates and provide tax exemptions to the construction industry that has witnessed a reduction in launches and sales these last few years," Moody's said in a statement.
The supply and demand of low-cost homes would increase as both existing and new players are expected to enter into this segment with reduction in borrowing costs after infrastructure status to affordable housing.
"Overall a safe and balanced Budget, which could have been bolder. Good allocations for rural development, affordable housing, agriculture and infrastructure sectors.