PROPGUIDE − A Complete Property Guide
#happyhome

#WeeklyRoundUp: Home Loans To Get Cheaper, Good News For Borrowers

Loading video...

Description

After a massive inflow of deposits triggered by Modi’s demonetization drive, 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, Bank of Baroda, United Bank of India too, have brought down the benchmark interest rate.

To redevelop the periphery of Mumbai, the Maharashtra government has proposed an additional cess of Rs 5,000 per sq metre for construction over and above the permissible floor space index (FSI). This has been proposed in case of redevelopment of as many as 100 old and dilapidated buildings in the suburbs. The amount is to be used for developing off-site infrastructure and is to be paid during the construction period.

After getting a go-ahead from the high court to regularize illegal buildings in its cities, the state government is now planning to regularize private houses across rural Karnataka. These will include residential farmhouses and independent houses in small towns which have been built without converting land or taking necessary permission. The move is expected to benefit about 25 lakh households and generate a revenue of around Rs 1,000 crore.

Japan and India are set to ink a deal to jointly develop Chennai, Ahmedabad and Varanasi as smart cities. During a meeting of Japanese Ambassador to India Kenji Hiramatsu with Union Urban Development Minister M Venkaiah Naidu, he said, Japan is "quite interested" in urban development initiatives of the Modi government and decided to be a partner, stated an official release.

The Greater Hyderabad Municipal Corporation will use satellite images to identify illegal construction in the city. The National Remote Sensing Centre is developing an app exclusively for the civic body to locate unauthorised structures.

Tags: Mumbai, SBI, Maharashtra government, Video, propguide


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

+ Click Here To Read This Article

Why Real Estate Is So Expensive In Mumbai

In India’s most prosperous city, half the population live in slums. In Savills' top 12 most expensive cities in the world, Mumbai was the cheapest city to live in. Yet, why is real estate in Mumbai the most expensive real estate is the world?

May 18 2015

+ Click Here To Read This Article

With Circle Rate Hike, Property Prices In Ghaziabad Set To Shoot Up

Effective from April 1, the Uttar Pradesh Housing Board has hiked circle rates for sectors of Vasundhara by 16 per cent. The move is likely to raise property prices at a time when markets are already struggling with a slowdown.

April 12 2017

+ Click Here To Read This Article

How A Swedish Touch May Help Maharashtra’s Smart Cities Get Smarter

Sweden has offered Maharashtra its assistance in developing its smart cities. PropGuide examines Sweden's SymbioCity model and how it may help building smart cities in Maharashtra.

November 20 2015

+ Click Here To Read This Article

Unsold Inventory: Learnings From PropTiger Q2 Report FY'16

Unsold inventory in major Indian cities have been declining, quarter by quarter.

November 10 2015

+ Click Here To Read This Article

Bandra-Worli Sea Link At Different Hours Of The Day [Photos]

PropGuide takes you through the Bandra-Worli Sea Link in pictures.

November 06 2015

+ Click Here To Read This Article

Jacqueline Fernandez Shows The Way To Buying Luxury Apartments in Mumbai

Mumbai is no longer a just a city of dreams; it is the city of dream homes! The Sri Lankan star sure knows how to find luxury apartments in the city that is also home to Bollywood.

July 10 2015

+ Click Here To Read This Article

Why Is Sonam Kapoor's New Home The Talk Of The Town?

Sonam Kapoor is the latest in the line of Bollywood actors who yearn to move out of their parents’ homes.

June 29 2015

+ Click Here To Read This Article

Here are the top stories of the week from the real estate sector.

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

After revisions in the draft rules of the Real Estate (Regulation & Development) Act, 2016,...

Structural defects, legal verification, and encumbrance are few things that you need to check...

New projects, numerous options, and reputed developers, make these five localities ideal for...

If the demands of the Chief Minister Yogi Adityanath-led state government are met, the road for...

Here is a checklist of documents required for buying a property. While some of these documents have...

Though Bahadurgarh real estate market doesn't look bright yet, there are key drivers that can help...

A building code is a set of norms that govern construction of buildings by stipulating minimum...

PropGuide simplifies complex real estate jargons for you.

Proptiger has released it's quarterly review report on India's real estate sector. Ankur Dhawan,...

Prime lending rate is the interest rate at which banks lend to its most credit worthy...

Subscribe Now

To stay tuned with real estate updates

Pick:

x +

Drop Your Query Here


Top