#WeeklyNewsRoundup: Repo Rate Remains Unchanged, Home Loans To Get Cheaper
As the Reserve Bank of India (RBI) has eased the additional cash reserve ratio norm, loans are expected to get cheaper. The reserve bank has, however, kept the repo rate unchanged at 6.25 per cent. Meanwhile, several banks, including HDFC Bank, Bank of Baroda, Bank of India and Dena Bank, have reduced their benchmark lending rates without waiting for the RBI action.
The Uttar Pradesh government has given its nod for the construction of a 15-km Metro project that is proposed to connect Noida's Sector 71 with Greater Noida's Knowledge Park V. The project is likely to be completed in March 2021. The project will benefit thousands of homebuyers who have shifted to the newly built apartment complexes in Greater Noida West and nearby Crossings Republik in Ghaziabad
The Ajmer Smart City Limited will revamp the road from Jaipur to Ajmer and make it six-lane. Under the Smart City Mission, the city has received a budget of Rs 1,900 crore for providing smart city facilities. The work has already begun on the project.
The Mangaluru City Corporation has formed a technical advisory group, which includes economists, environmental engineers, IT and town planners, architects, and financial experts to help the government in the implementation of the Smart City Project.
To expand its presence in Delhi and NCR, the Tata Group's real estate arm Tata Housing has forayed into the Noida market by partnering with developer Lotus Greens for a 20-acre housing project in Sector 150. The company is already developing four housing projects in Gurgaon.