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Fixed rate loan is back
Posted on Nov 19, 2014
After a long time, the fixed rate home loan is back in the market. Over the last few years, the interest rates on housing loans have been gradually increasing. Even though they stabilized over the last couple of years, there were not many banks offering a fixed-interest rate loan. In case of a fixed-rate loan, the rate of interest is decided before hand at the time of availing the loan.

The rate remains the same during a fixed part of the tenure of the loan irrespective of the market rates. In case the interest rate goes up, the borrower still pays the prior agreed lower rate. In case the interest rate goes down, the borrower loses as he has to pay a higher rate com pared to the market rate.

In case of a floating-rate loan, the rate of interest is linked to the base rate of the bank. The rate of interest varies directly with the base rate, which in turn is linked to the market rates.

In case the interest rate goes down, the cost of borrowing for the borrower also goes down. In case the rate of interest goes up, the cost of borrowing also goes up. Thus, the borrower floats along with the market rate.

The measures taken in the past are expected to show results, with the inflation figures likely to come within acceptable limits.

This being the case, there will be an opportunity for banks to cut interest rate in the near future. The RBI has been indicating time and again that it will induce a softer interest regime once the infla tionary factors come under control. It is this expectation that is prompting banks to offer fixed-rate loans for a longer tenure.

In the last 3-4 years, the market for fixed-rate loans had virtually disap peared. Borrowers were not ready to locking at a high rate. Banks could not lock in, too, because they did not know how much higher the interest rates would go.

Now, banks have started offering fixed rate loans for different tenures from five years upwards. These loans are priced marginally higher than the floating rate loans.

Also, banks offer a variant in the form of a partially-fixed rate loan where the rate is fixed for the first 1-3 years, and then it becomes a floating rate loan.

These are basically hybrid loans, con taining features of both fixed and float ing interest rate loans.

Recently, the RBI allowed lenders to float infrastructure bonds to the extent of the home and infrastructure loans out standing in their books. Infrastructure bonds are a cheap source of finance as they are exempt from reserve require ments. A fixed rate loan is suitable for bor rowers with limited capacity to prepay a loan and would not like to run the risk of the rates going up in future. For banks, the advantage of a fixed rate loan is that the prepayment penalty applicable here reduces the risk of pre payment by borrowers.

Bhiwadi: A rising star in NCR real estate
Posted on Nov 19, 2014
New Delhi: Bhiwadi is located is the Alwar district of Rajasthan, and is an emerging industrial destination in the NCR region. Located at just 40 km from Gurgaon, Bhiwadi is witnessing a shift from its erstwhile image as a mere industrial area to destination with full-fledged real estate viability. Being a part of the Delhi-Mumbai Industrial Corrid ...

Now, exchange old apartments for new ones
Posted on Nov 19, 2014
CHENNAI: A city-based developer has come up with an innovative marketing tool to beat the real estate slump. To prospective customers, the developer, Ceebros, has given the option of exchanging their old houses, apartments or residential plots in and around Chennai with new apartments on Montieth Road in the heart of the city. Real estate consultan ...

Credit demand rises for commercial real estate, but eases for companies
Posted on Nov 19, 2014
Loans to commercial real estate grew 20.26% in September over a year ago, higher than the 8.64% growth in non-food creditMumbai: Bank loans to the commercial real estate sector grew strongly over the past one-and-a-half years, recently published figures showed, as developers continued to borrow in a bid to stay afloat amid a shrinking demand for of ...

Increased supply of luxury homes in Ahmedabad
Posted on Nov 19, 2014
If you are searching for a luxury home in Ahmedabad, the city has a new stock of high-end properties to offer. While the city witnessed demand for luxury properties rendering high-end amenities, developers of the city responded to this demand by increasing the supply.Areas such as Prahlad Nagar, Bopal and Satellite recorded high supply of propertie ...

Kompally: An emerging real estate hub
Posted on Nov 08, 2014
HyderabadKompally is located towards the western part of the city. It is 24 km from Hitec city and 15 km from Secunderabad. The connectivity due to the highway and Outer Ring Road (ORR) has escalated the industrial and residential development here. The area is also connected by buses and MMTS service.Many reputed colleges and schools have been esta ...

Where to look for rented property in Bangalore
Posted on Nov 08, 2014
Looking for an apartment to rent in Bangalore? Try HSR Layout, Koramangala and Indiranagar. According to Magicbricks data, these localities offer maximum options for renting and are the most preferred. Here is a quick look at what these localities offer.HSR LayoutThe residential property mix available here includes multi-storey apartments, resident ...

Better to rent a flat than buy one in Mumbai
Posted on Nov 08, 2014
Skyrocketing prices have forced people in the city and the extended suburbs to stay on rent instead of buying houses.dna on Thursday reported that Liasas Foras, the Mumbai-based real estate firm, in its quarterly report said that 52,000 2BHKs in the city and 1.47lakh 2BHKs in the Mumbai Metropolitan region are lying unsold.Why are people going for ...

Investment tips to save tax for first time home buyers
Posted on Nov 08, 2014
Property buying is a crucial decision, especially for those investing for the first time. On one hand, it is an emotional decision as it involves the life savings and on the other hand, one has to be cautious and aware of the tax implications that come along with it. However, most of us are ignorant and dont know how to save taxes while making a p ...

Marked : 10-35% dip in home rents across Mumbai
Posted on Nov 07, 2014
There is good news in store for Mumbaiites who plan to rent homes in the near future — there has been a marked reduction in rentals of residential properties across the city.While the rents for smaller homes have dipped by 10%, those of premium properties have fallen by 35%, experts from the housing sector said.According to realtors in the city, fa ...

Koramangala still offers property options for mid-segment buyers
Posted on Nov 07, 2014
If you aspire to live in a premium locality of Bangalore, Koramangala, and have a limited budget of Rs 50-55 lakh, dont worry. Several pockets of the area still offer properties within this budget.According to Magicbricks data, one can find 1 and 2BHK units in Koramangala Block 1 and 2 within the said budget. However, in other blocks, such as 5th, ...

Housing prices rise in 18 cities by up to 3.9 per cent:NHB
Posted on Nov 07, 2014
Housing prices appreciated in 18 major cities by up to 3.9 per cent in April-June over the preceding quarter while property rates fell in six cities including Delhi, according to National Housing Bank (NHB).In the national capital, housing prices dropped by 3 per cent during the first quarter of this fiscal compared with the January-March 2014.Maxi ...

Delhi-NCR Real Estate market Overview
Posted on Nov 07, 2014
Delhi being the capital of the country is very important city in terms of economy, development and business opportunities. Top Bureaucrats, Administrators, Politicians reside there, nodal government agencies are established there and hence, Delhi has a strong and vibrant economy. Gross State Domestic Product (GSDP) at current prices has increased t ...

Liked a property on TV? Research well before buying
Posted on Nov 07, 2014
Vardhaman Kishore liked a property on TV and planned to buy it. The offer was attractive. A 2BHK for only Rs 11 lakh in an ‘upcoming locality on the Bhiwadi-Alwar Road and an upfront payment of Rs 11,000 only till the house is ready for possession. The intermediaries facilitated the transaction. Sounds good? When Kishore actually visited the site, ...

Should you switch home loan and why?
Posted on Nov 07, 2014
The Indian loan market has been given a boost owing to faster processing, rebate on income tax and flexibility of repayment.The domestic loan market is expected to touch Rs 21,980.6 billion by 2016 at a CAGR of 18.7 per cent. Among loans, home loan holds the largest share in the market. According to a research by TechSci, home loan had a market sha ...

Real estate and Interest rate
Posted on Nov 07, 2014
Overall growth in the sector will depend on passing the rate reduction to the ultimate buyer.Like the time immemorial debate as to which is first, ‘egg or chicken, the never ending debate on ‘interest rate leverage for economic revival has been raised by the Finance Minister, once again. While the Government has the paramount right to lay down po ...

New circle rates to push vertical growth
Posted on Nov 07, 2014
DEHRADUN: With revised circle rates coming into effect in the city soon, the top floors of multi-storey apartments are going to be easy on your pocket. This is so because the registry charges will be 25% less than the base price as calculated by the district administration. According to real estate industry insiders, the move is expected to trigger ...

Realty check: Kolkata to have lowest housing demand
Posted on Nov 07, 2014
KOLKATA: The city is likely to witness a slow off-take of residential units despite the state government's efforts to give a push to the sector.A Cushman & Wakefield study finds that the city will have a demand of less than a lakh residential units in next five years, which will be the lowest among all the metros in the country.In its report, r ...

Time to buy luxury property in Pune is now!
Posted on Nov 05, 2014
With ample supply in the market, luxury projects in Pune have limited takers at present. For those looking to buy high end property in the city, this might just be the right time!Across cities, it is noticed that developers have a tendency to build large and luxurious projects and in the process end up building more than what is actually required. ...

Delhi’s young population most optimistic about buying property
Posted on Nov 05, 2014
Sachin Kansal invested in his first property in Noidas Sector 168 when he was just 26 and working with a multinational bank. Today, at 31, he realises that his good pay package, bachelor life and foresightedness have been of good help. Youngsters are eager to put in their ready cash in something that would be of use to them – real estate being a p ...

Recent Articles
Fixed rate loan is back
Bhiwadi: A rising star in NCR real estate
Now, exchange old apartments for new ones
Credit demand rises for commercial real estate, but eases for companies
Increased supply of luxury homes in Ahmedabad
Kompally: An emerging real estate hub
Where to look for rented property in Bangalore
Better to rent a flat than buy one in Mumbai
Investment tips to save tax for first time home buyers
Marked : 10-35% dip in home rents across Mumbai

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