Real Estate Finance

RBI issues directive to banks: Link home loans to construction status

Written by Jayanta Saturday, 14 September 2013

( 0 Votes )Mumbai: The Reserve Bank today asked banks to link the disbursal of home loans to stages of construction to protect the interests of buyers and contain the fallout of “innovative” housing financing schemes. “In view of the higher risks associated with such lump-sum disbursal of sanctioned housing loans and customer suitability issues, banks are adv...

Easier exit window for foreign investors in infrastructure projects

Written by Jayanta Thursday, 05 September 2013

( 0 Votes )Easier exit window for foreign investors in infrastructure projects NEW DELHI: The government is planning to a give easier exit window to foreign investors in construction, housing and township projects, hoping to spur greater equity inflow into the debt burdened sector and help faster completion of delayed projects. The measures are continuation of the government’s ongoing drive to make FDI policy more...

Factor in capital gains

Written by Jayanta Thursday, 05 September 2013

( 0 Votes )Across Mumbai, several families are looking towards the redevelopment of their old tenanted property whereby they get a chance to move into a larger apartment with modern amenities. These properties have been granted higher floor space index (FSI), which is why developers are queueing up amid the lure of high returns. These dream homes, however,...

Orbit Corporation defaults on 96 crore loans

Written by Jayanta Wednesday, 21 August 2013

( 0 Votes )MUMBAI: Mumbai-based real estate developer Orbit Corporation has defaulted on liabilities of 96 crore, including repayment of loan availed from LIC Housing Finance and the interest on the amount, joining the list of troubled players in the sector grappling with a severe liquidity crunch. The housing Finance company has classified the account as a...

HDFC Realty strikes Rs 100-cr property deal for Axis Bank

Written by Jayanta Saturday, 10 August 2013

( 0 Votes )MUMBAI: In one of the biggest office rental transactions in recent times, private lender Axis BankBSE -1.84 % is believed to have entered into a property lease deal worth about Rs 100 crore for housing its back office operations. The property is being taken on a nine-year lease from Raheja Group and the deal has been arranged by HDFC Realty,...

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