Families of illegal immigrants from Punjab who were deported from the US are facing a crushing debt they took to facilitate their travel to America. They allege that travel agents used unfair means to facilitate the youths' travel without their knowledge and are seeking strict action against them. The families are burdened by the debt they took on hoping for a better future and are appealing to the government for help.
'Pakistan cannot sustain a war with India for more than four days. They are in such dire straits. At best they can sustain war for one week.'
Adani Properties Pvt Ltd (APPL) has emerged as the highest bidder for the redevelopment of Motilal Nagar in Mumbai, offering more built-up area than its nearest rival, L&T. This will be the second mega redevelopment project of Adani Group in Mumbai, after the Dharavi slum redevelopment project. The total estimated redevelopment cost of Motilal Nagar is around Rs 36,000 crore, and the rehabilitation period is seven years from the project start/commencement date. The project will rehabilitate 3,372 residential units eligible under MHADA, 328 eligible commercial units and 1,600 eligible slum tenements.
After the Dharavi slum redevelopment project, billionaire Gautam Adani's group has emerged as the highest bidder for the Rs 36,000 crore redevelopment of Motilal Nagar in Mumbai, sources said. Motilal Nagar I, II & III is one of Mumbai's biggest housing redevelopment projects, covering 143 acres in western suburb of Goregaon (W).
Mortgage finance remains a structural growth opportunity in India with a policy focus on affordable housing, housing shortages, low mortgage penetration, and rising incomes as drivers. Affordable Housing Finance Companies (AHFCs) serve the mass market, low-income segments, which is the least-serviced category, and to operate in this segment, the mortgage provider needs good assessment skills. AHFCs and HFCs have also been increasing exposure in other mortgage segments (loan against property, developer loans among others).
Banks are seeking clarification from RBI on the reverse mortgage housing loans for senior citizens
'Dharmendra, Shashi Kapoor and I were inseparable while we struggled together.' 'When a disillusioned Dharmendra was packing his bags to return home, I prevailed upon him to give himself two months.' 'Five days later, he was signed for Shola Aur Shabnam and I signed Picnic.'
Dozens of Indian immigrants, mostly from Punjab, were deported from the United States after attempting to enter the country illegally. They were returned to India in shackles, having spent lakhs of rupees on the journey. Many of the deportees said they were duped by travel agents who promised them a better life in the US. Their families had sold land, borrowed money, and mortgaged their properties to finance the trip. The deportees are now facing a bleak future, having lost their money and their dreams of a better life in the US.
The home is a valuable asset that most home owners acquire over time. Trading it for cash with a mortgage can be a less expensive way to avail of a loan, but it should not be used lightly.
Today's new, lower rates could drop even further, says mortgage maven Keith Gumbinger. If you've got a jumbo ARM, you might want to wait
A US military aircraft carrying 112 Indian deportees landed at the Amritsar airport late on Sunday night, marking the third such flight in recent weeks. The deportees, who hail from various states across India, will be allowed to return home after completing necessary immigration procedures. The deportations are part of a crackdown by the Donald Trump administration against illegal immigrants.
'Buyers should be provided either a fixed possession date or a firm date for the start of construction.'
The biggest catch in a reverse mortgage is that you cannot move out of the house
Rohit, a young man from Punjab, India, was deported from the United States after a perilous journey that cost him his life savings and left his family in financial ruin. He had been promised legal entry to the U.S. by a travel agent in Amritsar, but his hopes were dashed when he was apprehended for illegally crossing the border. The ordeal highlights the risks associated with illegal migration and the exploitation faced by vulnerable individuals seeking a better life.
Housing sales rose 7 per cent annually in 2024 across eight major cities to reach 12-year high at 3,50,613 units on better demand for premium homes amid stable mortgage rates and strong economic growth, according to Knight Frank. Last month, real estate consultant Anarock, however, had reported that housing sales declined 4 per cent in 2024 to nearly 4.6 lakh units across seven major cities.
All that you must know about the pros and cons of gift deeds, tax implications, essentials, documents required, conditions, etc...
US federal investigators are probing whether investment banking major Morgan Stanley misled investors about mortgage-derivative deals, says a media report.
In Kerala's society, known for its high material standard of living, plunging into a state of having nothing overnight can be terrible for one's social standing and sense of self-esteem. Rehabilitation entails piecing a community back together after a disturbance and while its aim is noble, the act of reassembling will bring alive disparities and inequalities, explains Shyam G Menon.
National Housing Bank, the refinancing and regulatory authority of housing finance companies in India, is of the opinion that reverse mortgage would fall under the tax bracket unless the government clarifies on exempting reverse mortgage.
Investors need to carefully assess country-specific risks. 'This is especially true of a market that is less transparent than the US.'
In the last couple of years, reverse mortgage (RM) has been touted aggressively as a product that will allow the elderly to unlock the value of their house. In fact, in the last two Union Budgets, the finance minister has made a special mention about it.
Housing finance regulator National Housing Bank will announce the guidelines for 'reverse mortgage' next month. This would allow senior citizens who own houses to have a regular stream of income for 15 years.
The National Housing Bank plans to allow senior citizens to mortgage their residential property to a bank or a housing finance company while retaining the right to stay, with an aim to providing a steady income to them.
Divya Nair/Rediff.com speaks to students and experts to find out whether it is better to study management in India or try for an international MBA.
Over 100 Indian immigrants, including 33 each from Haryana and Gujarat, 30 from Punjab, and several from other states, were deported from the US after undertaking perilous journeys filled with extortion and hardship. The returnees landed in Amritsar in a US military plane and are now back home, facing huge debts and emotional trauma. Many of them were lured by promises of a better life in the US but fell victim to human trafficking and extortion rings. The families of the deportees are demanding strict action against the travel agents who facilitated their illegal journeys.
The alliance focuses on the support of US loan servicing loan modification initiatives as defined under the Home Affordable Modification Program or alternative loan modification programs, Bangalore-headquartered Infosys said.
The country's largest private sector lender HDFC Bank on Saturday said it will grow its loan book slower than the industry in the current financial year (FY25). The move comes as the lender looks to bring down its elevated credit - deposit (CD) ratio to pre-merger levels. "We will bring down the CD ratio faster than what we had anticipated.
It will help customers raise the eligible amount by up to 20 per cent and increase the tenure by up to seven years.
The loan is given without any income criteria at an age where normal loans are not available.
LIC Housing Finance on Thursday announced it will launch reverse mortgage schemes for senior citizens in a couple of months.
The calendar year 2024 is set to go down as the best year for initial public offerings (IPOs) in terms of funds raised. Following the IPOs of food delivery major Swiggy and two other companies slated for next week, this year's total will reach nearly Rs 1.2 trillion, going past 2021's record tally of Rs 1.19 trillion. Swiggy's Rs 11,327 crore IPO, the sixth-largest in India, and solar energy firm Acme Solar Holdings' Rs 2,900 crore IPO opened on Wednesday (Nov 6), while health-tech firm Sagility India's Rs 2,106 crore IPO opened a day earlier.
In a high interest rate regime when all banks are offering loans at a lofty price, rates for loans against gold continues to be cheaper.
Hyundai Motor India Limited's (HMIL's) record Rs 27,870 crore initial public offering (IPO) may not have set the primary market alight with sky-high subscription levels, but it has spelled a windfall for the five investment banks steering the share sale. The Indian arm of the South Korean carmaker paid Rs 493 crore - 1.77 per cent of the issue size - in fees and commissions to the book running lead managers (BRLMs), marking the largest-ever payout for an IPO in the country.
The deal is expected to close in the January-March quarter.
InvestmentYogi's detailed analysis of reverse mortgage, financial planning and retirement planning solution for senior citizen and retirees.
A look into the legal rights of the mortgagor or any encumbrancer during the mortgage and more importantly after pay up of the mortgage money.
Bhatti Ramanadikshutulu, the chief priest of Kodandaramaswamy temple in Tirupati created a stir when he told the reporters that he had mortgaged a diamond necklace worth lakhs of rupees two years ago for an amount of Rs 9 lakhs to a moneylender.
The December meeting of the Reserve Bank of India's (RBI's) six-member Monetary Policy Committee (MPC) will start on Wednesday even as there is no clarity on whether Governor Shaktikanta Das, the chair of the panel, will continue in office after his term ends next week. The outcome of the meeting will be announced on Friday by Das at 10 in the morning.
Experts say you should be certain of living in a city and locality for a long time before purchasing a home.
Eying benefits from digital banking, lenders are now looking at building Unified Recovery Interface (URI) for enhancing efficiency, reducing costs, and getting good prices for properties of defaulters. This would be managed by PSB Alliance Ltd, a company set up by all public sector banks in the country. M V Rao, chairman, Indian Banks' Association (IBA), said: "Till now we had Unified Payments Interface (UPI), a product developed by National Payments Corporation Ltd (NPCI).
