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A curious game of 20-20 is being played out in the Indian realty sector, thanks to the government's move to prod banks to cut interest rates for housing loans up to Rs 20 lakh.
Across the country, real estate companies are now aggressively pitching projects highlighting two-bedroom apartments available for around Rs 20 lakh, hoping to lure buyers and revive the moribund housing market.
"It is not as if there is a dramatic reduction in prices, but developers want to take advantage of the lower interest rates being (0 comments)
NEW DELHI: Real estate developers may have to reserve 20% of the construction area for the economically weaker section (EWS) of the society. Union housing minister Kumari Selja is set to hold a meeting with state governments urging them to ensure reservation of developed land for EWS in housing projects. "Private builders and developers in the city will have to adhere to the new policy and make space for accommodating the poor in their housing projects," Ms Selja said. The proposal has been included as part of mandatory reforms to avail funds under the Rs 50,000 crore Jawaharlal Nehru (0 comments)
As Ratan Tata cements the foundation of his small car Nano project at Sanand, his dream project is serving as an anchor to draw big-ticket investments to the region hitherto unknown to India Inc, reports Shramana Ganguly Mehta. Mumbai-based infrastructure giant Hindustan Construction Company (HCC) is learnt to be keen to set up a high-end township project near Sanand at the cost of around Rs 30,000 crore. ET has learnt that HCC, which gave the country the first-of-its kind economically self-sufficient township project "Lavasa" near Pune at the cost of Rs 40,000 crore, is keen to bring the concept (0 comments)
Hyderabad based Maytas Infra a contruction company has bagged a Rs 110-cr railway project from the southern railway for doubling the broad gauge tract from Chengalpattu to Vilupuram.
The project, a joint venture with CT Ramanathan, is set to be executed within 18 months from the date of agreement according to a release. "We look forward to deliver this project on time using our strengths of people, machinery and technology," Maytas infra chief financial officer W Rama Raju said. Maytas Infra surged over 2% and was trading at Rs. 164 in the late afternoon trade on the Bombay (0 comments)
Home loans for poor get cheaper - 01/09/09 04:29 AM
Govt offers additional 5 p.c interest subsidy on loans up to Rs 1 Lakh THE POOR can soon avail of house loans at low interest rates. Close on the heels of public sector banks announcing a lowering of interest rates on house loans up to Rs 5 lakh to 8,5 per cent, the government has decided to provide an additional 5 per cent interest subsidy on loans up to Rs 1 Lakh. A poor person taking a loan of up to Rs 1lakh from a public sector bank or HUDCO at 8.5 percent interest, as has been announced by public (0 comments)
OVERSEAS FUNDING TO BOOST REAL ESTATE - 01/09/09 04:28 AM
The second economic stimulus package announced by the government has some good news for the troubled real estate sector. The fund-starved sector would be now permitted to tap the external commercial borrowing route to raise money, subject to the Reserve Bank of India approval, provided the money is used for the development of integrated townships.
There would also be a dialogue between the central and state governments to release more land for the low and middle income housing. Coupled with these, the RBI's easing monetary stance, signaling a lower interest rate regime, also is good news for the beleaguered sector. (0 comments)
Mumbai: Real estate developer Akruti City has ventured into value homes segment, a tad higher than affordable housing, to attract middle class buyers having aspirations to enjoy modern amenities but with less paying capacity. The company has announced three large housing projects in Mira Road, Thane and Pune with a price range of Rs 13 lakh to Rs 24.2 lakh for one to three room apartments. These prices are 10to 20 per cent more than affordable houses but 30 to 35 per cent cheaper than luxury homes. Courtesy:- Times Business dtd:- 03rd Jan 2009
HOME WITHIN THE RANGE - 01/03/09 01:35 AM
The year began with a bang for the real estate sector. It seemed as if the property prices would defy the law of gravity forever, as buyers didn't seem to mind paying a fortune to acquire huge houses with modern amenities. However, thanks to the economic slowdown, the picture has not been rosy since the second half of the year. According to real estate experts, the scene is going to change and 2009 is going to be a better year. And, according to them, action is going to be in the affordable housing segment.
"Higher interest rates, inflation, large house (0 comments)
ALLAHABAD BANK ANNOUNCES SPECIAL PACKAGE FOR HOUSING LOAN & MSME BORROWERS - 01/03/09 01:34 AM
In order to ease the difficulties being faced by the housing & MSME Sectors due to the current global conditions, Allahabad Bank, one of the leading nationalised banks of the country, has offered a bouquet of relief measures to new housing loan & MSME borrowers in line with the special package announced by Reserve Bank of India and Indian Banks' Association
Disclaimer: ActiveRain Corp. does not necessarily endorse the real estate agents, loan officers and brokers listed on this site. These real estate profiles, blogs and blog entries are provided here as a courtesy to our visitors to help them make an informed decision when buying or selling a house. ActiveRain Corp. takes no responsibility for the content in these profiles, that are written by the members of this community.