Listen To The Article The Reserve Bank of India's decision to raise the repo rate by 50 basis points to 5.9 percent, far higher than the pre-pandemic level of 5.40 percent, is likely to restrict the pace of expansion in the residential real estate industry. The city's realtors believe the move will have a long-term impact on the sector's growth and could have been postponed until after the...
Listen to The Article After the Reserve Bank of India (RBI) raised the policy repo rate by 50 basis points (bps) to 5.9% in its Monetary Policy Committee (MPC) meeting on Friday, leading housing finance provider HDFC Ltd. raised its lending rate by 50 basis points. HDFC has executed seven rate hikes in the last five months. “Effectively from October 1, 2022, HDFC bank increases its Retail...
The processing fee is the most essential and obvious price imposed on home loans. It is the cost that you have to pay to banks or NBFCs in order to process your home loan application. It is a one-time cost that is normally paid beforehand, you must pay it to the bank/NBFC out of your own pocket rather than having it deducted from your loan amount. There are a few banks that refer it as an...
Home Loan Top up funds can be used for anything from purchasing furnishings to building, extending, or renovating your home. It is available to existing home loan borrowers with no security or guarantee required. Interest rates are lower, and you can get tax breaks on your home loan refinance. The lowest interest rate on a top-up house loan is 7.10%. Repayment terms can be the same as those of a home...
As many as 30 homebuyers filed a case against Raheja Developers Limited, requesting a return of the total sum collected from them for consideration of the units, plus interest, due to the project's delay in development. The National Consumer Disputes Redressal Commission (NCDRC) has ordered Raheja Developers to refund homebuyers' deposits as well as interest for delaying its project Revanta in Sector...
TDS should be deducted from the sale price of an NRI-purchased property, and the rest should be given to the NRI seller. If you buy a property from a Non-Resident Indian (NRI), you must deduct tax (TDS) as required by Section 195 of the Income-tax Act of 1961. (ITA). When you make a payment to an NRI for the acquisition of a property, you must deduct tax. This is only valid if an advance is being...
Ingka Centres, the sister company of IKEA, which sells home furnishings is to invest more than Rs 7,300 crore in two of its office and retail buildings in Gurgaon and Noida. The Global furniture giant IKEA is all set to open city centre with a commercial mix in Gurgaon. The multi-use marketplace and meeting place to provide an excellent retail experience. The corporation, with its headquarters in...
The process of applying for a home loan has become easy and accessible. It requires basic personal, employment, income, and property details to complete the documentation. Once you have submitted the application online, wait for the approval. If all the documents are correct and genuine, the loan must be approved and a sanction letter issued. The final loan amount may be different for salaried and...