In a move to support RERA, banks have decided not to extend home loans to projects that are not registered under the Real Estate (Regulation and Development) Act. These are the times when fraudulent builders and fly-by-night real estate promoters are trying to find loopholes in the regulation. Hence, banks are taking extra care to […]
Overcrowded streets, never-ending traffic jams and the chaotic lifestyle of metro cities make people long for peace and solitude. Not only the uber-rich, but those with modest means are also looking to buy a second home away from the city.
State Bank of India has launched its online platform for homebuyers- SBI Realty. SBI Realty provides home loans for the purpose to purchase a plot for construction of a dwelling unit. The construction should take place within 5 years from date the loan has been sanctioned.
With the revolutionary ‘Goods & Services Tax’ or GST effective from July 1, 2017, most industries are waiting to see the impact it brings. One such industry is the real estate industry. While GST is expected to bring in more transparency in real estate, there is speculation whether it will ultimately lead to decrease in […]
Want to pre-pay your home loan? here is 5 Smart Ways to Pre-Pay Your Home Loan. Read more to know how to reduce home loan burden.
Home loan is a major financial commitment for homebuyers but, at the same time, it also entails huge risks for the bank. This is the reason why banks are very apprehensive about extending home loan to people who are close to retirement, regardless of their financial standing.
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 […]
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 […]