Housing loans News

The rise in unsold inventory resulted in an uptick in the inventory overhang in January-March of 2022-23, it said. It noted that with strong demand for houses in the post-pandemic period, the house price gap (actual less trend) is closing after a period of around three years. A positive house price gap is an early warning of concentration of credit and vulnerability in the housing market.

Cooperative Minister has instructed the corporation to slash the rates on the directions of Chief Minister Arvind Kejriwal, the statement from Delhi government said. "With the directions of the Delhi government, the rate of interest for Delhiites to take housing loans has been reduced from 7.45 per cent to 6.75 per cent," said Goyal.

Majority of respondents surveyed indicated that the Union budget 2020-21 will observe an increase in tax exemption limit to Rs 2.5 lakh per annum. 

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The real estate sector is facing a multi-year slowdown, particularly residential segment. The sales have been hit further post demonetisation and NAREDCO President Parveen Jain said the cut was much awaited and will fuel demand.

The Reserve Bank's recent move to reduce risk weights and standard asset provisioning on individual housing loans are credit negative for the banking sector, says a report.

With higher loan growth rate of 23 percent over almost the past five years and low delinquency rates of under 1 percent, the affordable housing segment offers strong growth opportunities for lenders, says a report.

PNB Housing Finance' self-employed customers, who have taken loan of Rs 50 lakh and above, can now opt to pay lower repayments initially and step it up gradually as income increases.

Dewan Housing Finance Corporation Ltd (DHFL) on Thursday reduced lending rate by 0.2 percent to 9.35 percent to cash in on the festival fervour.

In a first in the current fiscal, Punjab National Bank has waived processing fee and documentation charges for new housing and car loans till September 30 as a part of its three-month 'monsoon bonanza' offer.

RBI's move to lower loan-to-value ratios and risk weights for individual housing loans can help bring down interest rates on home loans by another 25-30 basis points over the next few months, says a report.  

The Reserve Bank's new norms on individual housing loans is expected to give a strong fillip to the housing loan market in India, says a Bank of America Merrill Lynch report.  

Banks can now provide home loans up to 90 percent for properties that cost Rs 30 lakh or below, RBI said Thursday.  

Banks will be able to free more funds to lend for affordable housing as the Reserve Bank on Tuesday proposed to lower the minimum risk weight on housing loans from the current 50 percent.  

Punjab National Bank (PNB) has launched monsoon bonanza offer in which the bank is offering full waiver of upfront or processing fees and documentation charges on all housing and car loans.

Housing prices have risen to record high levels, but increase in disposable income of the homebuyers has made the purchase of a house most affordable in over a decade, according to mortgage giant HDFC Ltd.

The company's total income in the fourth quarter of last fiscal rose to Rs 1,582.47 crore, from Rs 1,417 crore in the year-ago period.

RBI's decision to cut interest rate augurs well for business and will prompt people to go in for housing and consumer loans which will boost demand and growth, Revenue Secretary Shantikanta Das said Wednesday.

The RBI on Thursday allowed banks to extend loans up to Rs 10 lakh to individuals against long-term infrastructure bonds issued by them, thus easing loan norms for low-cost housing.