#RealtyNewsRoundup: Soon, Credit Score To Decide Home Loan Rate
You better pay attention to your credit rating as very soon it may decide your home loan rate. Bank of Baroda (BoB), which announced lowest rates on home loans, is set to be the first bank to link interest rates on home loans to credit scores of borrowers. The bank will initially rely on credit scores of Credit Information Bureau of India (CIBIL) wherein those with scores above 760 points will be charged 8.35 per cent.
Mumbai’s regional development agency MMRDA shortlisted as many as 29 contractors, including consortia led by L&T, Tata Projects and Pallonji Group, for the three packages of the 22km-long Mumbai Trans-Harbour Link (MTHL) project. The project is likely to cost over Rs 17,000 crore.
Markets regulator Securities and Exchange Board of India (SEBI) has recognised all Royal Institution of Chartered Surveyors (RICS) certified professionals specialising in the valuation of fixed assets as competent professionals to perform the valuation of assets listed under real estate investment trusts (REITs). However, SEBI in its amendments to the REIT regulations of 2014 has set forth a condition that RICS professionals should have a minimum work experience of five years in relevant areas of practice.
The Vasai-Virar Municipal Corporation (VVMC) has begun razing the illegal buildings in Pelhar, Valiv, Nalasopara and Virar using heavy-duty excavators, indicating the quality of structures is poor. So far, around 4,500 structures have been brought down. A special cell has been created to keep a record of the illegal structures. Most of the illegal constructions are in Nalasopara.