Latest Answer: Hi Guys,
As per news, RBI had said in its bi-monthly monetary policy statement that , on a review of the external sector outlook and as a further exercise in macro-prudential management, it has been decided to enhance the limit under the Liberalized Remittance Scheme (LRS) to $ 250,000 per person per year. The LRS allows residents to acquire and hold shares, debt instruments or other assets outside India without prior approval of the RBI.
Latest Answer: I would suggest you should see the graph which shows the growth of property prices over a period of time, House of hiranandani has build flats from 30L to 1.5 cr so its a varied market. So of builders like Hira are having a development plan in these locations, that shows the realty sector is going to boom. Also see that the new government will also have a positive impact on reality sector.
Latest Answer: ICICI Bank has implemented a reduction in interest rates on home loans by 10 basis points - to 10.15 percent – for borrowers who draw loans for an amount up to Rs 75 lakh.
Latest Answer: I agree with you Nikhil. But though RBI’s move is small, it is necessary towards the development of real estate in India. Such growth-oriented plans combined with the government’s fiscal measures are necessary for the industry development. Even in April 2012, the repo rate had been cut by 50 basis points. Experts are saying that more rate cuts would be done by RBI in future and it would allow cash crunched developers and other sectors to borrow at competitive rates.
Latest Answer: Good news for home loan customers. For loans above three years, too, interest rate has been reduced from 13.25 per cent to 12.75per cent.
Latest Answer: Yes it is true now the property buyers are going to face sharp blow for home loans. According to the latest news notice by RBI, banks have to exclude the stamp duty, registration fees and other charges to calculate the total value of a property while giving a loan.