SBI announces cheaper home loans

After the Reserve Bank of India prescribed new system to improve transmission of monetary policy that is Instead of one benchmark rate, banks would indicate at least five benchmark rates varying according to tenures called Marginal Cost of funds based Lending Rates (MCLR), home loans  from the country’s largest lender, State Bank of India are set to be cheaper by 10 basis points. read more at http://shopsandhomes.com/blog/index.php/2016/04/sbi-announces-cheaper-home-loans/

Ready Reckoner Rates hiked by 7% in Maharashtra

The state revenue minister, Eknath Khadse made an announcement in the state assembly that the Ready Reckoner (RR) rates have been increased to 7% with Effect from April 1, 2016. In rural areas the rates have been hiked by 8%, 7% in influential areas, 7% in municipal council and nagar panchayat limits and 5% in municipal corporations. On an average at the State level, the increase comes to around a moderate 7% for 2016-17. read more at http://shopsandhomes.com/blog/index.php/2016/04/ready-reckoner-rates-hiked-by-7-in-maharashtra/

New lending rate calculation makes home loan cheaper

From April 1st onwards, home loans are going to be cheaper. As part of the new rules announced by RBI, banks across the country will have to calculate their lending rate as per the marginal cost of funds. The country’s biggest lender State Bank of India has revised its home loan rate to 9.4%. This will see EMIs of customers falling down by Rs.300 for those availing Rs.50 lakh loan for 15 year. read more at http://shopsandhomes.com/blog/index.php/2016/04/new-lending-rate-calculation-makes-home-loan-cheaper/

Gudi Padwa- the time to buy your new home

The festival of Gudi Padwa typifying all new auspicious beginnings is earmarked by builders for launch of their respective projects. Particularly, this year the timing of the festival is well placed for project launches. read more at http://shopsandhomes.com/blog/index.php/2016/04/gudi-padwa-the-time-to-buy-your-new-home/

Indian residential segment to attract over Rs. 6,000 cr PE investments, say experts

Private Equity (PE) investments in Indian real estate sector have already raised $420 million in the first two months of 2016, as compared to $520 million for the whole of last year. Given its attractive rate of returns averaging at a high of 20-22% per annum, industry experts believe that Residential property in India is expected to receive $1 billion (Rs 6652.75 crore) investment this year.  read more at http://shopsandhomes.com/blog/index.php/2016/04/indian-residential-segment-to-attract-over-rs-6000-cr-pe-investments-say-experts/

Bangaluru will now see property details online!

There are nearly 15 lakh properties under the Bruhat Bangaluru Mahanagara Palike (BBMP) limits, the details of which will be uploaded ward-wise on the BBMP website very soon. read more at http://shopsandhomes.com/blog/index.php/2016/04/bangaluru-will-now-see-property-details-online/

Two bids worth $ 1bn for property in Powai received by Hiranandani

It is heard that two bids totalling $ 1bn have been received by real estate giants Hiranandani for itsproperty in Powai. As per sources, the bids have been received from an Indian PE Firm and Canadian Firm. Hiranandani is, apparently planning to sell commercial property measuring 4.5 million sq. ft in Mumbai’s suburbs.  read more at http://shopsandhomes.com/blog/index.php/2016/04/two-bids-worth-1bn-for-property-in-powai-received-by-hiranandani/