#RealtyNewsRoundUp: RBI Hikes Repo Rate To 6.5%, Home Loans To Cost More
Description
The Reserve Bank of India (RBI) on August 1 hiked the repo rate for the second time in a row. After the RBI decision to hike rate in its Third Bi-monthly Monetary Policy review, repo rate now stands at 6.50 per cent. With this, home loans would cost borrowers dearer now.
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The Centre did not maintain information about various housing projects of any state or Union Territory and their completion status, but state governments are required to maintain a website with relevant details for public viewing, Parliament was informed. The information was shared by Minister of State for Housing and Urban Affairs Hardeep Singh Puri in a written response to a query in the Lok Sabha.
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The Ghaziabad Development Authority (GDA) is reportedly planning to demolish nearly 500 illegal buildings in August. The buildings have been served demolition notices and will be razed to the ground. Meanwhile, the GDA has also decided to not to hike circle rates this year, but some corrections will be carried out.
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The Maharashtra Cabinet has approved recovery of stamp duty on land transactions executed in the Mumbai Metropolitan Region (MMR) between May 19 and September 19, 2017, according to the 2017-18 ready reckoner rates. Those who executed land deals during this period will have to pay the difference between the stamp duty.
Source: Media reports