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RBI policy favours home buyers, but experts call for more sops to boost demand

RBI policy favours home buyers, but experts call for more sops to boost demand
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Home loan rate cuts by key lenders to help push housing sales momentum further

Home loan rate cuts by key lenders to help push housing sales momentum further
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The country’s largest private mortgage lender HDFC has reduced the interest rate on its home loans to 6.75% from 6.8%. This reduction in home loan rate was announced just days after banks like the State Bank of India (SBI) and Kotak Mahindra Bank announced rate cuts.
The banks are competing to grab the home loan customers before the fiscal year ends
The reduction in home loan interest rates to the record-low level by leading financiers including the
Kotak Mahindra Bank is expected to boost the current housing sales momentum further. ....

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Luxury Properties Priced Above Rs 7 Crore Raked In The Moolah In Mumbai

Luxury properties priced above Rs 7 crore raked in the moolah in Mumbai
Some real estate brands in Mumbai witnessed luxury home sales worth over Rs 500 crore on the back of stamp duty cut and festive offers.
Luxury and branded home segment benefited the most as a result of reduction in stamp duty charges and low interest rates in Mumbai. While mid-income housing projects did offload considerable inventory, luxury housing projects raked in the moolah, says a new report by CRE Matrix, a real estate intelligence firm, and IGR Maharashtra.
According to the analysis, the top selling projects in the calendar year 2020 in Mumbai basis the value of the units sold included Indiabulls Real Estate for the project Blu that sold units worth Rs 598.8 crore; K Raheja’s Artesia that sold units worth Rs 591.3 crore; Avighna’s One Avighna Park that sold units worth Rs 386.2 crore; Runwal’s The Residence that sold units worth Rs 325.5 crore; and Oberoi Realty’s Three Sixty West� ....

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Maharashtra okays 50% cut in premiums for builders

Maharashtra okays 50% cut in premiums for builders
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Filed on January 7, 2021
The reduction in premiums, coupled with the revision in stamp duty will make real estate development in Maharashtra lucrative.
Reuters
Residential sales grew 80 per cent in Q4 2020 over same period last year.
The Maharashtra government’s bold decision to reduce premiums by 50 per cent under the new Development Control and Promotion Regulation (DCPR) rule 2034 across the board for on-going and new property projects upto December 31, 2021 has been hailed across the industry.
Dr Niranjan Hiranandani, President Naredco, said: “This move will go a long way in expediting the project completion and the industry will witness new launches in the market. The industry applauds this booster dose making many projects viable and we shall adhere to the rules laid down in lieu of availing these benefits. Also, the reduction in premiums for new lau ....

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