User: sandman1965 Topic: real estate
Category: Home Loans
Last updated: Jun 26 2016 17:40 IST RSS 2.0
 
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Allow banks, HFCs to fund land deals: Deepak Parekh to RBI 26.6.2016 ET: Policy
Parekh, chairman of HDFC Ltd that was a pioneer in this sector, said that a major factor that can improve housing affordability is bringing down the cost of land.
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Allow banks, housing finance companies to fund land deals: Deepak Parekh to RBI 26.6.2016 DNA: Urban Tales
In a strong pitch for RBI to allow banks and housing finance companies to fund land transactions, industry leader Deepak Parekh has said NBFCs and foreign private equity players are charging exorbitant rates that push up the cost of land. Parekh, chairman of the country's leading mortgage lender HDFC Ltd that was a pioneer in this sector, said that a major factor that can improve housing affordability is bringing down the cost of land. "Merely reducing interest rates is not sufficient. As banks and housing finance companies are not permitted to fund land transactions, this gap is mainly being met by non-banking financial companies and foreign private equity players who fund these transactions at exorbitant rates," he said. In his annual message to shareholders of HDFC, Parekh further said in a sector like real estate where multiple approvals are required, embarking on a digital platform to grant approvals will be a significant game changer for the industry. "It will bring in discipline to grant approvals ...
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Investors keen on a bite of housing pie with Hudco 16.6.2016 ET: IPOs
Hudco IPO is set to excite investors as this could be the most reliable substitute for them after the Housing Development Finance Corp. in the real estate funding sector.
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India’s first of its kind mortgage guarantee venture yet to take off 15.6.2016 ET: Finance / Insurance
India Mortgage Guarantee Corp (IMGC) was established in June 2012 and started business the next year.
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Indiabulls Housing Finance aims to raise $250 mn overseas 13.6.2016 ET: Finance / Insurance
Indiabulls Housing, which provides home loans, loan against property along with others, reported a 25% year-on-year rise in net profit at Rs 675.50 crore during the Jan-Mar quarter.
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HDFC announces plans to raise Rs 1,000 crore via debentures 12.6.2016 Sify Finance
Mortgage lender HDFC has announced its plans to raise Rs. 1,000 crore from debentures to fund business growth model.
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Why this loan is better than personal loans 11.6.2016 Rediff: GetAhead
Many house owners are not aware of this option and hence end up taking personal loans to renovate their homes
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Rajasthan’s tribal family mortgages anklet, sells goat for toilet 10.6.2016 TOI: Cities
A daily wager in Rajasthan’s Dungarpur sold one of his goats and mortgaged his wife’s silver anklet to raise Rs 9,000 for building a toilet.
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Raj tribal family mortgages anklet, sells goat for toilet 9.6.2016 TOI: Jaipur
Geetha Sunil Pillai A daily wager in Rajasthan's Dungarpur sold one of his goats and mortgaged his wife's silver anklet to raise Rs 9,000 for building a toilet.
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Here's why your wait for cheaper loans just got a little longer 8.6.2016 ET: Banking
Rajan felt that poor demand from corporates could have refrained banks to lower lending rates, which means that retail borrowers will have to wait a little longer for rate cut too.
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Banks should lower interest rate on home loans, demand realtors 7.6.2016 DNA: Recent Columns
Realtors' bodies CREDAI and NAREDCO on Tuesday demanded that the RBI should take measures to ensure that banks pass on the benefits of previous policy rate cuts to customers as this would revive housing demand. RBI on Tuesday left borrowing costs unchanged but signalled a prospect of interest rate cut later this year if strong monsoon rains dampen inflation. "We expected a 25 bps rate cut in the monetary policy review as that would have given further momentum to economic growth, which is beginning to pick up pace and becoming broad based," NAREDCO Chairman Rajeev Talwar said in a statement. Till the next monetary policy in August, he expected the "central bank to take measures and further improve the monetary transmission so that past policy rate cuts are passed on by banks to their customers and loans can become cheaper." RBI has reduced the short term lending rates by 150 basis points since January last year. Talwar, who is also CEO of realty major DLF, said that any cut in lending rates on the back of ...
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Movie review: Project Marathwada 3.6.2016 TOI: Entertainment
The actors do a fine job of salvaging the situation. Be it Seema Biswas or Dalip Tahil, the film’s supporting cast shines. But mostly, the film rides on Om Puri’s shoulders.
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Retail loans shine amid NPA gloom 30.5.2016 DNA: Wide Angle
As the bad loan pile of corporates rises, small borrowers are keeping credit growth for banks buoyant. And not just that. They are paying loans on time, leading to fall in retail non-performing assets (NPAs) of all banks in fiscal 2016. For top lender State Bank of India, which has gross bad loan outstanding of over Rs 98,000 crore, the retail NPAs constitute only 0.51% of its total retail loan book. For ICICI Bank, HDFC Ltd too, the gross NPAs for retail loans were lower in fiscal 2016 over a year ago. Arundhati Bhattacharya, chairman SBI told dna, "Luckily in our country we have a huge employment on the service side that has held up through the difficult times. This has helped the retail loans. It is also a lot of hard work and process improvement. The same will happen in the corporate side as the economy gets going." The need for homes, credit cards and unsecured credit is keeping the retail loan book of banks growing. SBI has retained its position as the largest financier of home loans in India with ...
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Nationwide says mortgage lending back at pre-crisis levels 24.5.2016 The Guardian -- Front Page

Building society controls nearly 14% of mortgage lending market, but it warns of the effect of competition on profits

Nationwide Building Society, the UK’s second largest mortgage lender, has admitted profits will come under pressure in the coming months as competition from rivals heats up.

The company’s new chief executive, Joe Garner – who joined from BT earlier this year – said the group could continue to offer more attractive rates to the members who own the society by generating profit of £1bn-1.5bn a year.

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UPDATE 2-UK Stocks-Factors to watch on May 24 24.5.2016 Sify Finance
(Adds company news items)
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Indian Securitisation Market grew 45% to around Rs 25,000 crore in FY2016 23.5.2016 ET: Finance / Insurance
Indian Securitisation market grew by 45% to around Rs 25,000 cr in FY2016, a reversal of past three years’ trend.
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Flexibility is the new injustice inflicted on the working class 22.5.2016 The Guardian -- Front Page
Globalisation is often blamed for falling living standards. But the role of flexible working and self-employment in blighting people’s lives is being overlooked

The rise of Nigel Farage, Donald Trump and Marine Le Pen is often blamed on the angry, reaction of blue-collar workers to decades of falling living standards.

The financial crash of 2008 only served to make the situation worse. And so the west finds itself in the grip of powerful protest movements that seek to brush aside failing, sclerotic institutions like the US congress and EU parliament in favour of more locally democratic administrations (or possibly right-of-centre governments with autocratic leaders).

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Brexit: House prices will plummet if Britain leaves EU, UK Treasury says 21.5.2016 DNA: Urban Tales
British house prices could fall by up to 18% if the country leaves the European Union, the Treasury says a claim dismissed as scaremongering by campaigners for a UK exit from the bloc. Treasury chief George Osborne said leaving the EU would be a "profound economic shock" that would lower property values and raise mortgage rates. Treasury analysis estimates property prices will be worth between 10 and 18% less by 2018 if Britain leaves than if it stays. British house prices rose 9% in the year to March, and the value of property is something of a national obsession especially in London, where the average home costs 535,000 pounds (US $775,000), more than 10 times the average annual household income. Some economists think a fall in house prices would be a good thing because it would help new buyers currently priced out of the market. Others argue any benefit would be offset by a rise in mortgage rates and economic instability. Many international banks and ratings agencies have warned that leaving the EU ...
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Flipkart investor Tiger Global cuts stake in Amazon 17.5.2016 Rediff: Business
Amazon India, Flipkart and Snapdeal are currently locked in a battle for market leadership in the burgeoning Indian e-commerce sector.
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HDFC to raise Rs 1,500 crore via debentures on private placement 17.5.2016 TOI: India Business
The issue will open on Wednesday and close on the same day. The mortgage lender, Housing Development Finance Corporation (HDFC), said only the persons specifically intimated through a communication are eligible to apply for the debentures and no other person can apply.
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