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Real Estate Forum on Housing Loan

Real Estate Property Discussion Forum and Guide to Real Estate Queries

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Q: As per CRISIL, Loan Against Property are building up risk in the banking system.
Latest Answer: That is the main reason, non-banking financial players have been at the leader of the rush in Land Against Property market, riding on their strengths of innovation, ability to offer products based on customised cash-flow assessment, and faster reversal times.
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Q: Hey, Have you heard about the RBI's second rate cut?
Latest Answer: @Shantanu, For the moment, bankers across the board welcomed the rate cut move, which comes within days of the Budget'15 and an agreement being reached between RBI and the government over inflation targeting. Private sector lender Yes Bank's Rana Kapoor said he expects cuts of 1.50% more this fiscal which will help boost the sentiment and re-ignite investments. Similarly, Bank of Maharashtra's Executive Director R K Gupta said the rate cut shows the central bank's comfort about the quality of fiscal consolidation and is positive for growth.
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Q: The affordable housing sector was expecting that the Modi govt, like last time, would extend some support to it and solve the difficulties. But hopeless result.
Latest Answer: Good evening friends, It is really a good news as it will increasing the standards of living by giving proper homes and subsidised interest rates to EWS and LIG groups will not only aid in fulfilment of their social needs but also help everybody associated with the real estate sector. We are happy with this decision and welcome it wholeheartedly.
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Q: Is it true that the I-T Act says if a house to be used by the buyer is not handed over the by the builder "within three years from the end of the financial year in which capital was borrowed", the exemption on the interest amount will only be Rs 30,000 and not Rs 2 lakh, raised from Rs 1.5 lakh in the budget.

Latest Answer: Hi Amit, One thing that should always keep in mind that in case of self occupied property, this deduction is allowed only for one such self - occupied property. The interest towards home loan taken for purchase, construction, repairs, renewal or reconstruction of house property is eligible for deduction under section 24(b).
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Q: We all know housing loans can be avail from government and commercial banks. Is there any other option available to get housing loans in the market?

Latest Answer: If a business owner spends the income on required items and pays the bills as they come in, he may not have an idea of how much the business is actually earning. Since the cash flow is not defined by a budget, the business owner may not recognize whether the company has a profit or has debt. Creating a simple financial budget has numerous benefits for the business owner, as he will have a better understanding of the business's cash flow. Thanks. Regards,
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Q: If I apply for home loan, how much housing loan can I get?
Latest Answer: For monthly income of Rs 10, 000 to Rs. 14,999, you will get 40% of the income as loan. Similarly for Rs 15, 000 to Rs 19,999: 45%. For Rs 20,000 and above: 50% . It will be given as per your income and your capability of paying back.
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