Real estate developers are hoping that the slew of tax concessions announced in Union Budget 2025, set to take effect this financial year, will spur demand for affordable and mid-segment housing, even as the broader housing market shows signs of fatigue.
After effecting two back-to-back 25 basis points rate cuts, Reserve Bank Governor Sanjay Malhotra on Wednesday hinted at another reduction in key policy rate by changing the central bank's monetary stance to 'accomodative' from 'neutral', which may further lower EMIs for consumers.
Aston Villa striker Marcus Rashford scored twice in a 3-0 defeat of second-tier Preston North End in their FA Cup quarter-final at Deepdale on Sunday to earn a Wembley semi-final against fellow Premier League team Crystal Palace.
Don't opt for the moratorium unless critical, advises Charlie Lee, founder and CEO, True Balance.
rediffGURU Jinal Mehta answers readers' financial planning and health insurance queries
Ask rediffGURU and PF expert Milind Vadjikar your insurance, stocks, mutual fund and personal finance-related questions.
Ask rediffGURU and PF expert Milind Vadjikar your insurance, stocks, mutual fund and personal finance-related questions.
Mortgage lender HDFC Ltd on Friday hiked its lending rate by 50 basis points hours after the Reserve Bank raised the benchmark interest rate to tame inflation. The move would increase EMIs for housing loans by the firm. "HDFC increases its Retail Prime Lending Rate (RPLR) on Housing loans, on which its Adjustable Rate Home Loans (ARHL) are benchmarked, by 50 basis points, with effect from October 1, 2022," the country's biggest housing finance company said in a statement.
The biggest risk in under-construction projects is delay and non-completion.
'Marginal rates will definitely affect the consumer's decision in entering a new transaction, but in reality, they don't affect much because banks/financial institutions have come up with step-up EMIs: 50% of home loans which exceed 15 years in India are prepaid, within 7-8 years.' 'This doesn't happen anywhere in the world.'
Ask rediffGURU and PF expert Nitin Narkhede your mutual fund and personal finance-related questions.
While festive offers can reduce costs, borrowers should also consider the lender's transparency and service quality. Customers need to be mindful of their repayment capacity.
Under the scheme, customers can now make zero down payment, avail a six-month EMI holiday (only interest needs to be serviced monthly) and access up to 100 per cent on-road funding for a loan tenure of five years, Tata Motors said in a statement.
The country's largest lender State Bank of India has raised its marginal cost of funds based lending rate by 10 basis points or 0.1 per cent across all tenures, a move that will lead to an increase in EMIs for borrowers. This is the second hike in a month raising the cost by 0.2 per cent with the two consecutive increases. The revision follows an off-cycle rate increase by the Reserve Bank earlier this month. The central bank hiked the repo rate -- at which it lends short term money to banks -- by 0.40 per cent to 4.40 per cent.
'We deposited money just yesterday, but they did not say anything...'
Goenka approached Rahul after the match to congratulate, only to receive what looked like a cold, disinterested handshake. No words, no eye contact. Just quiet closure and a telling payback.
A round-up of Saturday's action in the Premier League.
In addition to interest rates, review the fine print for penalties and repayment terms, and select a reputable lender to avoid harsh recovery practices.
Beware: During the period that you avail of the moratorium, there would be no repayment of interest or principal. Thus, the outstanding will go up substantially for this period as a consequence
You will lose out on discounts and have to pay a higher premium.
'Credit card debt comes with high interest cost and stringent penalties.' 'If you do not repay on time, the costs balloon.'
From attractive EMIs to assured buyback guarantees, luxury carmakers have lined up a slew of offers to woo customers this festival season to address dwindling sales amid rising inventories.
Ask rediffGURU and PF and MF expert Janak Patel your mutual fund and personal finance-related questions.
Ask rediffGURU and PF expert Milind Vadjikar your insurance, stocks, mutual fund and personal finance-related questions.
Ask rediffGURU and PF expert Nitin Narkhede your mutual fund and personal finance-related questions.
In a note to customers, the country's largest lender State Bank of India said, 'Interest shall continue to accrue on the outstanding portion of the term Loan during the moratorium period'. The accrued interest will be collected by the lender in the form of additional EMIs from those borrowers who opt for the three-month moratorium.
Ask rediffGURU and PF and MF expert Janak Patel your mutual fund and personal finance-related questions.
Using mantras from the Bhagavad Gita, Vatsal Ramaiya explains how you can conquer your home loan debt and unlock a world of financial freedom and peace of mind.
Ask rediffGURU and PF and MF expert Janak Patel your mutual fund and personal finance-related questions.
The government should provide home loan up to 25 lakh at a lower interest rate of 5 per cent to the people of the middle class, a prominent realtors' body appealed to the government against the backdrop of soaring home prices. G Hari Babu, president of the National Real Estate Development Council (Naredco), in an online interaction with Business Standard, said that the middle class in India accounts for roughly 30 per cent of the total population and is dependent on rental accommodation.
Towards the end of February, the Reserve Bank of India (RBI) restored the risk weighting on banks loans to non-banking financial companies (NBFCs; including to microfinance institutions, or MFIs) to 100 - back to its November 2023 position - from 125. It is only a partial relief though. "Higher risk weighting on unsecured lending continues to be in place while the same on bank funding to NBFCs has been done away with. "This is a positive step by RBI," says Rajiv Sabharwal, managing director (MD) and chief executive officer (CEO), Tata Capital.
Union Finance Minister Nirmala Sitharaman on Saturday announced a fresh Rs 15,000 crore 'SWAMIH Fund' for completion of 1 lakh units in stalled housing projects across various cities, a move aimed at providing relief to distressed homebuyers whose investments are stuck. In November 2019, the Centre announced a stress fund named 'Special Window for Affordable and Mid-Income Housing' (SWAMIH), to complete stalled housing projects across India.
As much as 20 per cent of the gross merchandise value (GMV) of sales made on e-commerce platforms is being financed through the no-cost EMI route, up from 4-5 pc two years ago.
Reach fifth round for first time in 10 years
Experts say you should be certain of living in a city and locality for a long time before purchasing a home.
For those looking for more affordable options, purchasing an under-construction property could be a smart move, as these generally cost less than ready-to-move-in properties.
All you need to do to figure this out is to get on to Microsoft Excel.
rediffGURU T S Khurana answers readers' personal income tax queries.
A round-up of Tuesday's action in the Premier League.
