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240% increase in urban house approval under NDA govt
Sunday, May 20, 2018, 6:07 PM
The BJP-led NDA government has approved construction of 45.86 lakh houses in urban areas since it came to power in 2014, recording an increase of around 240% as compared to that sanctioned in the UPA government's 10-year tenure, as per official data. According to the data said around 13.45 lakh houses were approved during the UPA I and II under two-schemes JNNURM and RAY.
IDBI Bank increases MCLR rates by 5-10 bps
Monday, May 14, 2018, 5:52 PM
State-run IDBI Bank today raised its marginal cost of funds based lending rate (MCLR) rate by up to 10 basis points across various tenors. The revised rates are applicable from May 12, the bank said in a statement today. It has increased MC by 5 to 10 bps across various tenors. The bank has increased its one-year MCLR to 8.65 percent.
RBI may go for 3 rate hikes from December quarter: Morgan Stanley
Monday, May 14, 2018, 3:27 PM
The Reserve Bank is expected to begin its rate hike cycle from December quarter, and may go for three rate hikes by 2019 taking the key policy rate to 6.75 percent, says a Morgan Stanley Report. "With end demand holding up well, private capex appears poised for a recovery later this year," Morgan Stanley said in a research note.
Apartments exceeding 10 flats to be brought under RERA
Monday, May 7, 2018, 6:44 AM
Constructions on plots exceeding 500-sq. yards and apartments exceeding 10-flats in Telangana will soon be brought under the RERA passed by the Centre in 2016, as builders must mandatorily register these projects from July-1. Though the state government notified RERA, aimed at protecting the interests of property buyers, in August-2017, the Act did not come into force owing to a lack of implementation guidelines.
Interest rates unlikely to go up further: DEA Secretary
Thursday, May 3, 2018, 3:26 PM
The finance ministry does not see any scope for further northward movement of interest rates, notwithstanding RBI Deputy Governor Viral Acharya's signal for the hike in repo rate in June policy. "My sense is that interest rates have firmed up enough. I don't think that they should increase further," Economic Affairs Secretary Subhash Chandra Garg told PTI in an interview.
One year on, has RERA helped bring back homebuyers
Monday, April 30, 2018, 11:26 PM
A year after the Real Estate (Regulation and Development) Act, 2016, (RERA) came into force, homebuyers are slowly returning to the market on the back of a price correction, pent-up demand, easier payment schemes and increased credibility instilled by the new regulatory regime. To be sure, RERA is still a work in progress and, at best, still patchy in implementation.
Affordable homes take centre stage in Mumbai Development Plan
Thursday, April 26, 2018, 10:37 AM
Mumbais much awaited Development Plan 2034, approved by Maharashtra chief minister Devendra Fadnavis, is aimed at creating a million affordable homes in the city and provides extra floor space index (FSI) for both residential and commercial construction. The Development Plan (DP) for Greater Mumbai has gone through several revisions in the past.
MP govt wants PM Modi, CM Shivraj Chouhans photos on house tiles
Thursday, April 26, 2018, 9:33 AM
Houses built in Madhya Pradesh under the Pradhan Mantri Awas Yojana will have ceramic tiles with the photographs of PM Narendra Modi and CM Shivraj Singh Chouhan at its entrance and kitchen. The tiles also will carry the slogan "Sabka Sapna, Ghar Ho Apana", along with a picture of Bharatiya Jan Sangh ideologue Deendayal Upadhyaya.
Supply of new homes down 60% in January-March: Report
Sunday, April 22, 2018, 12:05 PM
Sitting on huge unsold housing inventories, real estate developers across nine major cities launched only 27,800 units during March quarter, down 60 percent from the year-ago period, as they focused on clearing existing stocks, says a report. Launches of new homes stood at 69,489 units during January-March last year, News Corp-backed realty portal PropTiger said in the latest report.
Housing prices down by avg 7% in Jan-Mar 2018: Report
Thursday, April 19, 2018, 3:25 PM
Housing prices fell by an average 7% during January-March in nine major cities over the previous quarter as developers cut property rates to boost their sluggish sales, according to real estate research and analytics firm PropEquity. Unsold housing stock fell by 2% to 5,95,074 units during March quarter 2018 from 6,08,949 units in the previous quarter due to increase in sales volume.
HDFC hikes home loan rates for the first time since 2013
Saturday, April 14, 2018, 10:43 AM
HDFC, Indias largest mortgage financier, has increased its benchmark prime lending rate (PLR) for the first time since December 2013, marking a shift in the interest rate trajectory. Mortgage rates for loans above Rs 30 lakhs have been raised by up to 20 basis points while those below Rs 30 lakhs, which include priority sector loans, have been increased by 5 basis points.
UP constructs over 7 lakh housing units under central housing scheme
Monday, April 2, 2018, 9:13 AM
Uttar Pradesh has constructed 7,71,073 housing units till March 31 under the Centres rural housing project, Pradhan Mantri Awas Yojana-Gramin (PMAY-G), and secured the first position in the country, a minister said today. The housing units meant for the rural poor have been completed in a record span of nine months, Uttar Pradesh Rural Development Minister Mahendra Singh told reporters.
CBI files Rs 19cr UCO bank fraud case
Sunday, April 1, 2018, 5:37 PM
The CBI has registered a fresh bank fraud case amounting to Rs 19.03 crore that was sanctioned by UCO Bank to 18 fake borrowers under various home and property loan schemes with concessional interest rates in 2013 and 2016, it was announced on Sunday. The agency's move comes in the wake of a complaint received from UCO Bank on March 27.
NBCC aims to build 1 lakh budget houses over next 5 years
Thursday, March 29, 2018, 10:24 AM
State-owned project management consultancy firm NBCC is planning to build over 1 lakh affordable houses on its own land parcels, plots owned by the government and public sector undertakings, said a top company official. It is looking to build these houses over the next five years to support the governments stated objective of Housing for All by 2022.
Govt would complete its PMAY target much before 2022: Hardeep Puri
Friday, March 23, 2018, 2:47 PM
Union minister Hardeep Singh Puri today said the government would complete its target of building 11 million homes under the Pradhan Mantri Awas Yojna much before 2022. The housing and urban affairs minister said that he has informed Parliament regarding the progress of the government's flagship scheme, under which 4.5 million houses would be sanctioned by the end of March.
