#RealtyNewsRoundup: Home Loans To Get Cheaper As RBI Cuts Repo Rate By 25 BPS

The Reserve Bank of India (RBI) on April 4 reduced benchmark interest rate by 25 basis points (bps) for the second time in a row to bring interest rate to the lowest level in one year on softening inflation. The central bank, however, kept monetary policy stance at neutral. The RBI move would make home loans cheaper.

***

Builder-buyers agreements that blatantly favour the former would have no legal authenticity, the Supreme Court has said. While passing its verdict in case where a Gurgaon-based developer refused to pay interest to the homebuyer for the delay in giving possession of the unit, the top curt said one-sided and unfair contracts drawn up by developers would not be binding.

***

Over 1.2 million people died in India due to air pollution in 2017, says the State of Global Air 2019 report released by US-based organisation Health Effects Institute (HEI) on April 3. Overall, long-term exposure to outdoor and indoor air pollution contributed to nearly five million deaths from stroke, diabetes, heart attack, lung cancer and chronic lung disease in 2017, the report added. 

***

West Bengal treats only 49 per cent of the waste water before dumping it in the Ganga, the National Green Tribunal (NGT) has said while directing the state government to submit quarterly report on the issue of solid waste management. The green panel noted that about 90 per cent of municipal solid waste generated in Bengal is being dumped in the open every day in violation of statutory pollution laws.

Source: Media reports