Updated Mar 04, 2021 | 18:11 IST | Alexander Mathew
India s largest mortgage NBFC has cut its benchmark lending rate, intensifying the battle for the largest slice of the country s home loan market. Representational Image | Photo Credit: IANS
Key Highlights
SBI, Kotak Mahindra Bank had earlier slashed home loan interest rates, triggering a rate war
It s a good time to be a home buyer in India. With interest rates on home loans at an all-time low, lenders seem to be heading into a rate battle to capitalise on the sudden reemergence of interest in housing.
The housing market in most of India s top cities had been sluggish over the past five years, with inventories piling up. But now, with the lockdown to curb the pandemic having forced several households to consider moving to bigger homes, and with banks vying for new business, anecdotal evidence points to a resurgence in demand.
Updated Jan 12, 2021 | 16:56 IST
The Mumbai Metropolitan Region and National Capital Region account for 74% of the total stuck or delayed units across India s top seven cities as of 2020-end, says the data. Representational Image | Photo Credit: IANS
Key Highlights
190 housing projects accounting for over 73,500 units were completed in the top 7 cities in 2020 despite Covid-19
MMR topped the list in project completions, as per the data seeing completion of 84 stuck projects in 2020
Housing units currently stuck or facing delay in construction across the top seven Indian cities amount to Rs 4.05 lakh crore, according to a study by Anarock Property Consultants. Over five lakh residential units across Bengaluru, Chennai, Hyderabad, Kolkata, Mumbai Metropolitan Region (MMR), Pune and the National Capital Region (NCR) were delayed as of 2020-end, and these projects were launched before or in 2013.
Real estate industry 2021: What can the sector look forward to? Is the worst behind us?
How the budget pans out for the real estate sector, only time will tell, but one thing is for sure, strong fundamentals are vital for the revival of housing demand
Dhruv Agarwala | January 21, 2021 | Updated 14:59 IST
The pace of revival can quicken, provided the government extends a helping hand and injects enough stimulus to boost the sector and the overall economy
The year 2020 was meant to be a year of recovery for the Indian real estate sector, especially the housing segment. After three years of business disruptions caused by demonetisation, implementation of GST and the realty law RERA, and the NBFC crisis, the market had started stabilising.