India's housing finance sector is riding a wave of post-pandemic revival, driven by policy support, digital innovation, and growing demand from younger homebuyers in emerging cities.
Opening up the corner office is fine, but will the government be able to attract talent without giving a market-rate salary?, asks Tamal Bandyopadhyay.
The Enforcement Directorate on Thursday conducted simultaneous raids as part of a money laundering investigation linked to an alleged bank loan fraud of Rs 3,000 crore against Anil Ambani group companies and Yes Bank, official sources said.
Reliance Group Chairman Anil Ambani on Tuesday appeared before the Enforcement Directorate here for questioning in a money laundering case linked to alleged multiple bank loan fraud cases worth crores of rupees against his group companies, official sources said.
The Enforcement Directorate has summoned Reliance Group Chairman Anil Ambani for questioning in a money laundering case linked to alleged bank loan fraud.
The move is to align affordable housing finance flows to the increase in property costs and inflation, says Raghu Mohan.
More than 58% of individual housing loans disbursed in 2023-2024 were more than 25 lakh in size.
'Unless banks focus on the Rs 10-15 lakh loan segment, growing affordable housing will remain a challenge.'
'Earlier, our cost of funds was higher than most in the peer group.'
Bank credit growth is expected to moderate this financial year after a robust 16 per cent estimated for last financial year, driven by strong economic activity and retail credit demand. There are three reasons for this: a statistical high-base effect given the strong growth seen last financial year, revision in risk weights by the Reserve Bank of India (RBI), and relatively slower economic activity.
The Rs 6,560-crore initial public offer of Bajaj Housing Finance Ltd received 63.60 times subscription on September 11, the last day of bidding, amid overwhelming participation from institutional buyers. The initial share sale had a price band for the offer at Rs 66-70 per share.
Finance Minister Nirmala Sitharaman on Wednesday announced a 66 per cent hike in the Pradhan Mantri Aawas Yojana (PMAY) outlay to Rs 79,000 crore.
'We started affordable housing loans that has good traction and the books have grown to Rs 750 crore as of the end of last quarter.'
Residential house prices have only risen since the pandemic.
Housing finance company (HFC) PNB Housing is planning to focus on reducing delinquencies in 2023-24.
Rs 5,000 crore additional liquidity facility to be provided by the National Housing Bank to boost liquidity in housing sector, the RBI said.
Housing sales mostly declined during the first and the second wave of the coronavirus pandemic but prices did not fall in most of the cities but rather increased in some cities, according to the Economic Survey 2021-22. The pre-Budget document also highlighted that the housing demand recovered after both the waves on the back of pent up demand, low interest rates on home loans and reduction in stamp duty by some states. The survey has analysed the National Housing Bank's data on change in housing transactions in Q1FY21 (first COVID-19 wave) and Q1FY22 (second COVID-19 wave) over the pre-pandemic levels of Q1FY20. It also looked into change in housing prices index during this period.
The central bank held 72.5 per cent equity in Nabard worth Rs 1,450 crore, of which 71.5 per cent amounting to Rs 1,430 crore were divested way back in October 2010 and the residual shareholding was divested on February 26, 2019.
The government has also proposed to set up a Mission on Low Cost Affordable Housing to be anchored in the National Housing Bank.
New norms are in place to strengthen regulations for this set of lenders which has been playing a critical role in Asia's third largest economy, notes Tamal Bandyopadhyay.
The Reserve Bank's rate-setting panel, Monetary Policy Committee (MPC), began its three-day deliberations on Wednesday amid expectations of a status quo on benchmark rate mainly on account of uncertainty over the impact of the second wave of COVID-19 pandemic. Moreover, the fears of firming inflation may also refrain the MPC from tinkering with the interest rate in its bi-monthly monetary policy outcome to be announced on Friday. The RBI had kept key interest rates unchanged at the last MPC meeting held in April.
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.
The housing finance regulator National Housing Bank on Thursday said it was collecting information from housing finance companies about their exposure in group entities of the scam-tainted Satyam Computer Services.
The Rs 20,000 crore is in addition to Rs 10,000 crore support announced earlier by the housing sector regulator NHB.
Housing prices in 22 major cities, including Delhi and Mumbai, are witnessing downward trend in April-June period compared to the previous quarter due to slowdown in demand, National Housing Bank said.
Within five days of the budget, the RBI brought in housing loans below Rs 50 lakh under priority sector lending.
You may not believe it but data show average real appreciation in residential property in urban India over 2007-14 was zero.
Housing prices have risen in 18 major cities, including Delhi and Mumbai, by up to 9.6 per cent during October-December period 2012 compared with the previous quarter, according to National Housing Bank (NHB).
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.
The finance minister asked lenders to identify eligible borrowers and reach out to them and urged for quick implementation of a sustained resolution plan for the revival of every viable business.
Even as demand in the real estate market remains sluggish, Delhi and Mumbai have recoded property price appreciation of 33.3 per cent and 22.65 per cent, respectively.
As stricter RBI guidelines, rising inventory and the slowing economy leave developers reeling, buyers are bargaining harder to strike a deal.
As stricter RBI guidelines, rising inventory and the slowing economy leave developers reeling, buyers are bargaining harder to strike a deal.
High unit prices and interest rates have cramped buyers' ability to purchase property.
The companies have 90 days to deposit the money with Sebi, which has been tasked by the Supreme Court to return the money to the investors.
The number of cities with property rates rising was down to six in the second quarter, against 12 earlier, according to the NHB index.
DHFL has been generating funds through various means and has exited from its subsidiary units to tide over the current financial crunch.
Credit to priority sectors as well as small and medium industries will be discussed to find ways to accelerate economic growth.
Senior government officials say that barring the National Housing Bank Amendment Bill, no major Bill -- not even the Banking Bill which the Cabinet has cleared -- will make it to Parliament by May 22, the last day of this Budget session.
Budget for women and children welfare increased from Rs 1,56,528 crores to Rs 1,84,632 crores for 2017-18
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