KK Sharma, ED of Bank of Rajasthan, explains the rationale behind its offer of 7.5 per cent home loan rate-which is one of the lowest home loan rates in India. So if you are looking to save money on home loans, check out the offer from Bank of Rajasthan, which is a 66 year old private sector bank. Their website is: http://www.bankofrajasthan.com
Category Archives: India Real Estate News
Indian Real Estate Industry Overview – mid 2009
The global financial crisis and the resultant slowdown in the global economy during the year 2008-2009 have halted industrial and business expansion. The subsequent drying up of liquidity has led to an overall slowdown in the real estate sector in India.
There has been sales slowdown across all real estate asset classes: Residential, Commercial, SEZ/Industry Parks.
Demand in real estate has remained grim, primarily due to low consumer confidence. This can be attributed to a weak economic scenario. High levels of inflation led to the government increasing interest rates. This led to the drying up of liquidity available for businesses to expand, leading to a slowdown in the commercial real estate demand. The increase in the cost of finance also led to a drop in residential real estate demand.
Continue reading Indian Real Estate Industry Overview – mid 2009
Get Ready For Tata Nano Homes!
After the super response to Tata Nano, now the Tata group is coming up with Nano homes under the name Shubh Griha, priced between Rs 3.9 lakh and Rs 6.7 lakh.
When and Where? The first township comprising one bedroom-kitchen flats, to be built by Tata Housing Development Company (THDC) will be in the Mumbai suburb Boisar, in Thane district. This housing project is conveniently located within 5 minutes of Boisar railway station and MIDC. Here’s the location map.
This model will be replicated across several metros, tier II and III cities in the country. To learn more, please visit their site: http://www.shubhgriha.com
Various Players in the Low Cost Housing Market: Tata Housing Development Company joins other developers like Puravankara, Omaxe and Housing Development & Infrastructure Ltd (HDIL) that have moved to the affordable housing segment, because that still represents a big market with unmet need. India faces a shortage of 24.7 million dwelling units, with three-fourths of this deficit being in the middle and low-income groups.
The Trend is strong: Others entrepreneurs including Mphasis founder Jaithirth Rao, NGO Janaagraha founder Ramesh Ramanathan and Bangalore based CSC Constructions are also said to be interested into entering this segment and are drawing up their housing projects.
SBI Home Loan Interest Rate Cut & Analysis
The major news from last week for home loans and residential property is this: State Bank of India (SBI) has frozen interest rates at 8% for a year for new home loan customers. Now SBI has one of the most (if not “the most”) attractive home loan interest rate in India. And SBI is SBI…dependable PSU bank that will not go anywhere till India is intact.
So we are seeing many people getting ready to move away from ICICI Home loans and HDFC Home loans to SBI. Some people have reported that ICICI is charging 11% to 15% even after RBI’s reduction of rates. So in this case, that decision to move to SBI makes good logic, if ICICI or HDFC are not willing to match the 8% interest rate. You should not pay 3-5% more interest than the lowest rate in the market. Continue reading SBI Home Loan Interest Rate Cut & Analysis