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#RealtyNewsRoundUp: Bank Of Baroda To Offer Cheapest Home Loan

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Bank of Baroda (BoB) has outdone market leader State Bank of India (SBI) in cutting rates on home loans, which it now offers at 8.35 per cent as against SBI’s 8.6 per cent. Historically, SBI has been the cheapest in the home loan business and its closest rivals offer loans around 5 basis points (bps) higher than the country’s largest bank. This is the first time a nationalised bank has undercut SBI. Meanwhile, Sundaram BNP Paribas Home Finance announced a cut in its interest rates for new home loans to 8.70 per cent from 9.20 per cent, effective from today.

Maharashtra government has approved extra floor space index (FSI) for redevelopment of mills chawls and dilapidated buildings. The decision will pave the way for redevelopment of 100-year-old Model Mill Chawl and encourage people residing in dilapidated structures to redevelop their homes.

Engineering and technology giant GE is setting up shop in Chennai. The Fairfield headquartered company will set up a back office and processing centre across 1.7 lakh square feet at Ramanujam IT Park in Taramani.

The Maharashtra government has decided to further divide the slum sprawl of Dharavi into smaller sectors to lure developers to come forward for the ambitious housing project. Four previous attempts to get bids for the project failed as not a single application was received.

Tags: home loan, interest rates, SBI, Video, Dharavi


After SBI, Other Banks Slash Home Loan Interest Rates

Private majors ICICI Bank and HDFC Bank have reduced the interest rate for loans up to Rs 30 lakh to 8.35 per cent.

May 16 2017

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Home Loans Of Over Rs 75 Lakh Get Cheaper As RBI Tweaks Norms

The Governor Urjit Patel-led Central bank has made many new provisions that would make it possible for banks to offer more to borrowers at lower interest rates.

June 09 2017

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#RealtyNewsRoundup: Now, Private Banks Reduce Home Loan Rates

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May 16 2017

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#RealtyNewsRoundup: SBI Cuts Home Loan Interest Rates

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May 09 2017

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#RealtyNewsRoundUp: Japan To Develop Chennai And Varanasi As Smart Cities

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January 06 2017

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#RealtyNewsRoundup: SBI Lowers Home Loan Interests Rates

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May 03 2016

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Considering Personal Loan To Make Down-Payment For Property? Read This

Your need for booking a property might be quite pressing, and you may not have much choice in the matter. So, you apply for a personal loan to make the down-payment. Before doing that, you must make yourself aware of certain facts.

June 22 2017

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How To Make The Most Of Banks’ Interest Rate Cut

Several banks have reduced lending rates to help the government meet its housing-for-all mission. How does their largesse impact you?

May 23 2017

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