India's real estate sector, many fear, is unstable.
The most significant advantage of a joint home loan is the increase in your loan eligibility. Incomes of the individuals taking a joint home loan are combined to determine the eligibility and it results in a higher loan amount.
If you do not have an appetite for risk, we recommend you go in for a truly fixed-rate home loan.
The new rates vary from 8.80 to 9.05 per cent on various slabs of loans.
Bajaj Finance's quarterly business update, coupled with around 24 per cent fall over the past six months, has turned risk-reward favourable for investors, observe analysts. They see up to 39 per cent upside in the stock, from a one-year perspective. Global brokerage CLSA, for instance, has upgraded the stock from 'underperform' to 'outperform' with an increased one-year target price of Rs 6,600 (vs Rs 6,000 earlier) as it believes the risk-reward has turned favourable for the counter, and there is scope for expansion if growth remains robust.
Housing Development Finance Corporation, India's largest mortgage financier, today increased its retail prime lending rate by 50 basis points to 14.25 per cent. This is the first time HDFC is increasing its PLR in two years.
Salaried persons whose liability is fully deducted as tax deducted at source by their employer need not worry about advance tax payments, unless they have other sources of taxable income.
Piramal Realty will invest Rs 3,500 crore over the next two years in four ongoing housing projects as it aims to deliver a 6 million square feet area to customers, its CEO Gaurav Sawhney said. Founded in 2012, Piramal Realty is the real estate arm of the business conglomerate Piramal Group. It is one of the leading developers with 15 million square feet of residential and commercial under development in the Mumbai Metropolitan Region (MMR).
Top-up loans may be the best choice available if you want to raise some cash for personal purposes. Do explore it before looking into other expensive options.
Be wary of co-operative banks which have historically been most vulnerable.
Standard draft for sharing agreement between two individuals taking a home loan
Your financial goals are of utmost importance and the tax saving is an added incentive, advises Dwaipayan Bose.
'This is for the first time home loan rates have dropped below 7 per cent,' notes Tamal Bandyopadhyay.
Now you can get 'cash back' for paying the monthly instalment on your home loan.
Anil Rego, CEO, Right Horizons, answers your personal income tax queries.
A National Commission order held that the buyer was the borrower and so the bank was entitled to demand the EMI payments from him.
Axis Bank on Wednesday said it has completed the acquisition of Citibank's retail business in India for a final cash consideration of Rs 11,603 crore. The sale excludes Citi's institutional client businesses in India. The third-largest private sector bank said the acquisition, announced first in March last year, will not necessitate any new capital requirements and stressed that the attrition numbers on customers are much better than expected.
Sujata Ahlawat, Senior Vice President and Head of Direct-to-Consumer Interactive, TransUnion CIBIL, offers a quick glimpse into what a CIBIL Score is, the factors that impact it, and tips for maintaining a healthy score.
'Banks will continue to increase FD rates to attract more deposits and meet the increasing demand for credit.'
But there are challenges, observes Tamal Bandyopadhyay.
Punjab National Bank on Monday reduced the interest rates on housing loans. Under the floating option, 8% interest will be charged on loans repayable in 5 years, 8.75% for 5-10 years, 9.25% for 10-20 years and 9.75% for 20-25 years.
The government needs to do some more to get real estate transactions going. One is to figure out a way to bring prices down to more realistic levels, without crossing into the realm of formal controls.
Indians borrowed nearly Rs 1.60 lakh crore in housing loans in 2013-14, helping home finance firms' books move closer to the Rs 10 lakh crore mark.
Listed housing finance companies (HFCs), as a group, posted a 3.7 per cent drop in second-quarter (Q2) profit year-on-year (YoY) to Rs 5,830 crore and 19 per cent sequentially on rise in interest expenses and uptick in provisions and write-offs. Operating income rose 13.7 per cent YoY to Rs 54,086 crore in Q2 of 2022-23 (FY23). Sequentially, income was up 62.3 per cent, from Rs 33,331 crore in the first quarter (Q1) of 2021-22 (FY22).
'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.'
Making it easier for urban cooperative banks to extend housing loans, the Reserve Bank of India has relaxed the risk provisioning norm for purchase of residential properties up to Rs 30 lakh (Rs 3 million).
Taking informed decisions to manage the asset that we call home and the liability that we call housing loan. By being prudent, you can get high "returns" in the form of saving on interest outflow.
If you have traded in shares, your income will be considered as business income. Hence you will have to prerpare a profit and loss account, similar to that prepared by a trader and cliam all the expenses that you incurred for purchase and sale of shares. However while doing keep in mind that you will not be able to claim Securities Transaction Tax (STT) as expenses from the income, says direct tax expert Vikas Gandhi.
Banks would soon be able to determine whether a property is already mortgaged when a borrower approaches them for a loan against it and this would help in checking the increasing instances of housing loan frauds.
Reserve Bank of India Governor Raghuram Rajan, who will present his maiden policy on September 20, held discussions on Tuesday with Prime Minister Manmohan Singh and Finance Minister P Chidambaram on the macro-economic situation.
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