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#RealtyNewsRoundup: SBI Slashes Interest Rates [Video]

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Realty News Roundup is PropGuide’s selection of the day’s top stories from the real estate sector.

After a massive inflow of deposits spurred by the demonetisation of high-value banknotes, country’s largest lender the State Bank of India cut its marginal cost of funds-based lending rate or MCLR across all tenors by 90 basis points. MCLR is the benchmark lending rate at which a bank prices all its loans. Other public sector lenders such as Punjab National Bank and Union Bank of India, too, have brought down the benchmark interest rate.

With an eye on municipal elections, the Nagpur Improvement Trust has decided to build over 16,000 houses for economically weaker sections (EWS) and low income group (LIG) families. The civic body will also provide ownership documents to the residents of 52 slums built on its land.

The Gujarat government recently announced that the process to regularise residential properties built on land coming under the Urban Land Ceiling Act in five municipal corporations will begin from March next year. The government said that this is for the first time that 75,000 families living on ULC lands will have their properties regularised.

Realty developer K Raheja Corp and Singapore’s sovereign wealth fund GIC have entered into a pact to jointly acquire a three-acre land parcel in Mumbai’s Worli for Rs 610 crore from Siemens. The companies are planning to develop a five lakh sq ft commercial project at the site. 


Source: Media reports

Tags: State Bank Of India, Video, Nagpur, propguide, K Raheja Corp, demonetization, March, Singapore’s sovereign wealth fund GIC, Punjab National Bank, Union Bank of India

#Budget2017: A Little Nudge And Realty Will Take That Big Leap Towards Recovery

Despite all the doom and gloom stories one might be hearing bout India’s real estate, a close look at facts would tell you that the sector is actually headed to a grand re-launch and may spring to assert its position as the most preferred asset class.

January 30 2017

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SBI, PNB, Citi India Slash Lending Rates, Affordable Homes To Get More Affordable

In his address to the nation on the New Year’s Eve, Prime Minister Narendra Modi urged banks to make lower-middle class and middle-class their areas of focus. PM’s speech has prompted several banks, including India’s largest lender SBI, to slash lending rates. The move is likely to give an added push to the affordable housing segment.

January 02 2017

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#RealtyNewsRoundUp: Property Tax Collections Go Up Across Indian Cities, Thanks To Demonetisation

Here are today's top stories from the real estate sector.

November 15 2016

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Is NCR Losing Out To Mumbai, Bengaluru, Pune?

The National Capital Region, for very long, has been the largest residential real estate market in India. But, is NCR losing out to Mumbai, Bengaluru and Pune?

November 10 2015

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Why SBI's 40 Basis Point Cut In Base Rate May Bring Little Cheer to Home Buyers

PropGuide on why public lender State Bank of India's 40 basis point cut in base rate means little for home buyers.

October 05 2015

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5 Creative Eco Resorts Around The World

If luxury housing are eco-friendly then what else could you want? It's like having your cake and eating it too!

May 04 2015

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#RealtyNewsRoundup: Odisha Govt To Build 1,300 Houses For Poor In Bhubaneshwar [Video]

Here are today's top news stories from the real estate sector.

December 22 2016

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#RealtyNewsRoundup: Sebi Comes Up With Norms For Public Issue Of REITs [Video]

Here are today's top news stories from the real estate sector.

December 20 2016

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Here are the week’s top news stories from the real estate sector.

Here are today’s top news stories from the real estate sector.

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