A majority of homebuyers opt for home loans to fulfil their dream of owning a house. However, what if the buyer has enough funds to pay for the house in full? Should he still take a home loan? It is quite a debated topic among property experts. When you have extra funds to spare, why […]
SBI, on Monday, announced a rate cut of up to 25 basis points on its home loan making home-buying easier for new customers. Loans up to Rs 30 Lakhs will now cost 8.40%; the interest rate is 8.55% for loans over Rs 30 Lakhs. Moreover, women enjoy lower rates than others; loans up to Rs […]
Buying your own house vs. continue renting is a dilemma most young adults grapple with. While buying your own home is a massive financial commitment, that’s spread over a significant period of time, it helps you acquire a big asset and secures your future to a large extent. Currently, with home loan interest rates plummeting, […]
Rakesh, a senior manager at a leading technology firm, had been making regular EMI payments on his home loan for the past 5 years. After getting possession of his new house he decided to look up the amortisation schedule of his home loan for tax purposes and realised that contrary to expectation, only a small […]
You might have seen quite a few advertisements recently that show that home loans are now available for interest rates as low as 8.5% per annum. These rates are indeed among the lowest in history and it is definitely a good time to invest in a property of your choice. However, before you get inspired […]
A home loan is often the largest single debt that an individual services in their lifetime and many complain that the time taken from the point of application to disbursement is too long. However, what many home loan applicants do not realise is that there are several steps such as valuation, legal check, etc. from […]
As part of the drive towards making affordable housing a reality, the current government has made a lot of headway under the Pradhan Mantri Awas Yojana. Key features of the program include the government subsidy on home loan interest rates and a range of subsidies to promoters of affordable housing projects. Among these, the home […]
As India cements its positions as a leading player in the global market, industries and businesses have witnessed unprecedented growth, which have contributed significantly to skyrocketing real estate prices. However, the legal framework supporting India’s real estate segment required a much needed overhaul and the Real Estate (Regulation and Development) Act, 2016 (RERA Act. 2016) […]
One of the key features of note in the 2017-2018 Union Budget was the push to make the goal of affordable housing for every Indian more realistic. In the previous budgets, there were already a few initiatives that were launched by the current government to ensure the availability of affordable housing. In the following sections, […]
The huge surge in bank deposits due to demonetisation has led to banks reducing lending rates to the lowest in the last 6 to 8 years. Leading the pack, is SBI which has reduced its home loan rates by 50 basis points (bps) to as low as 8.5 per cent (fixed). Even, HDFC, the largest […]