Faced with falling residential demand, home buyers are being wooed with cars, fitouts, parking discounts. People familiar with the property market say this initiative, being led mainly by property marketing companies and a few investors or speculators, is unhealthy. They are doing this as they have put their money into properties at overheated locations and are now desperate to exit.
Here's a step-by-step guide to reach your dream
For prospective buyers, the advice is simple. Go ahead and buy because there is no indication of where the interest rate will be in the next six months.
'Industry observers are certain the next attempt will succeed even if they have to browbeat someone into buying as the government has put its might behind it,' predicts Anjuli Bhargava.
You must remember to choose the right home loan if you do not want to face the hassles in the process.
Open Network Digital Commerce (ONDC) has expanded its pilot to 15 more cities. This comes at a time when it plans to begin operations next month. Snapdeal has also signed the onboarding agreement with the network and will debut on it next month. On Monday, ONDC expanded to Noida, Faridabad, Lucknow, Bijnor, Bhopal, Chhindwara, Kolkata, Pune, Chennai, Kannur, Thrissur, Udipi, Kanchipura, Pollachi, Mannar and Ramnathpuram.
There are advantages too. But BUYERS BEWARE!
The four-day property exhibition, which concluded on Sunday, saw prospective home buyers returning 'disappointed'as they found the property prices 'unaffordable' and discounts 'meaningless'.The sales were down more than 60 per cent at the 13th Real Estate and Housing Finance exhibition, which was organised by the Maharashtra Chamber of Housing Industry.
The devil is in the detail for the real estate sector. Though the Budget gave sops to home buyers in the form of tax savings and interest rate subvention, it quietly brought back service tax on lease rentals in the Finance Bill.
Make sure buying a house won't lead to compromises on other crucial financial goals.
The effective nationalization of Freddie Mac and Fannie Mae gives big Asian investors the guarantee they're looking for
A 19th century necklace belonging to the great Sikh ruler Ranjit Singh's wife will finally return to Punjab.
DLF, Unitech, HDIL & Puravankara line up 60 million square feet of new launches. This is more than double the sales bookings in the past financial year.
The Supreme Court on Wednesday directed a full-fledged probe into the collusion of Tihar jail officials with Unitech's imprisoned ex-promoters Sanjay and Ajay Chandra, based on Delhi police commissioner Rakesh Asthana's report filed in a sealed cover.
Among the Sensex firms, HCL Technologies, Tata Motors, Hindustan Unilever, NTPC, IndusInd Bank, Bajaj Finserv, Bajaj Finance and Mahindra & Mahindra were the major gainers. Bharti Airtel, Reliance Industries, ICICI Bank and Asian Paints were the laggards.
Tata Housing's efforts at helping less privileged sections of society are commendable, but after a point it won't be able to do much for the simple reason that there aren't going to be enough lenders to give loans to these prospective home buyers.
People are not just splurging on clothes, mobiles and household goods through the online route, they are also looking at cars and even houses.
Cuts loan rates for third homes to regular rates.
Usually buyers get bogged down by details. How wonderful it will be if someone can assure us with finances and all we have to focus on is to find a nice home.
Gold, the safest haven amid the ongoing uncertainty, also emerged as one of the most lucrative investment options in financial year 2022-23 with an impressive return of 16.1 per cent in rupee terms, and 2.3 per cent returns in dollars. And, had it not been for the very high inflow of smuggled gold and the huge discount prevailing in the market due to high prices, the returns in gold would have been much higher, analysts said. The precious metal has consistently been delivering positive returns in India since 2016.
If only you had thought ahead, you would have stocked snacks and biscuits, bread and cake, and vegetables suited for Amma or pondatti to make your favourite bajji and pakoda, observes N Sathiya Moorthy.
Mihir Tanna, Associate Director, S K Patodia & Associates, answers your tax queries.
A day after the Budget, the industry estimates the sale of affordable homes could increase up to 20 per cent this year due to an additional exemption granted to first-time buyers.
Choosing to partially pay your loan can vastly reduce your interest burden. Find out how!
Starting with a family, which had a dealership of Bajaj Auto's scooters, to becoming the owner of a household name in consumer appliances who could afford to have Bollywood superstar Shah Rukh Khan as the brand ambassador, Venugopal Dhoot's is a story of an aggressive small town businessman's pursuit to be on the top. Now arrested in connection with the ICICI Bank loan fraud case, Venugopal Dhoot during his heydays was not the one to simply sit on small achievements like Videocon becoming the largest television set manufacturer in India.
Don't think twice to secure your most prized possession. It protects your precious home against unforeseen calamities
The COVID-19 pandemic affected the residential property market during the April-June period last year but sales have improved in affordable homes segment since July onwards, reflecting economic recovery in the real estate sector, according to the Economic Survey. The National Housing Bank's (NHB) Housing Price Indices (HPIs) are a broad measure of movement of residential property prices observed within a geographic boundary. The NHB-RESIDEX captures two housing price indices -- HPI@ Assessment Prices and HPI@ Market Prices - Under Construction Properties based on the data available for 50 cities with quarterly updation.
Modi's demonetisation move has hit the real estate market in Delhi and Mumbai
With developers opting for a cost escalation clause, buyers could find sudden rises in an under-construction property.
Real estate developer Supertech on Friday was declared bankrupt by the National Company Law Tribunal (NCLT), a move that could have a bearing on 25,000 home buyers of the firm's ongoing projects in the Delhi and NCR region. Acting on a petition filed by the Union Bank of India for non-payment of around Rs 432 crore worth dues, the bankruptcy court ordered the initiation of insolvency proceedings against real estate firm Supertech Ltd, one of the companies of Supertech group. The NCLT said "there has been a default in payment of the financial debt" and appointed Hitesh Goyal as the Interim Resolution Professional (IRP) superseding the board of Supertech Ltd.
To cater to home loan borrowers, housing finance companies and banks offer a variety of repayment options to suit an individual's need.
"The stability is because of the good supply. The home buyers have greater choice too," said D Timmana Goud, head retail assets-south, Axis Bank.
International Finance Corporation will put in $200 million and HDFC will contribute $600 million to create $800-mn corpus for affordable homes
Finance Minister Arun Jaitley on Monday did not change tax slabs but offered a relief of Rs 3,000 to the salaried with income below Rs 5 lakh per year.
According to Knight Frank, in the second half of 2015, launches will be down 52 per cent (from 37,643 in the second half of 2014) to 18,000, while absorption will improve 24 per cent.
Summary of sports events and persons who made news on Monday
The real estate subvention scheme or 80-20 home buying plan, recently banned by the Reserve Bank of India, is now being replaced by other offers to attract buyers.
Real estate bill seeks to impose penalties, including de-registration of the project and other fines in case of a breach.
