Loan for personal Home at Low Intrest rate

The SIAM estimated that car sales would grow by 11 to 13 percent in 2012-13, well above the zero to two percent growth it currently expects this fiscal year. Sales of new cars in India are likely to pick up in the next financial year, an industry body predicted on Tuesday, after months of flattish growth due to high borrowing costs and fuel prices. Sen said he expected India's central bank to announce "some policy measures" in coming months that would help boost economic growth and kick-start demand for cars. "The current quarter and the next fiscal year should be better," SIAM senior director Sugato Sen. Since November, car sales have improved slightly but remain subdued with many potential buyers deciding to defer their purchases or cancel them altogether because of costly Car loan and rising fuel costs. The cost of borrowing has risen due to high inflation, which the Reserve Bank of India has tried to rein in by raising interest rates 13 tim...

Faced with a sharp decline in home sales and declining cash flows, property developers are doling out minor discounts and freebies to boost home sales during the ongoing festive season. Mumbai-based property developer Sunil Mantri Group is providing “extra cheer” to its buyers. Under its offer ‘Mantri Mahotsav’, it promises cash discounts or freebies ranging from Rs 30,000 to Rs 1 lakh across its housing projects in Mumbai, Bangalore and other cities. The properties are priced between Rs 30 lakh and Rs 1 crore. “Buyers have waited for long and they have realised that interest rates will stay high for the next one to two years. They are also seeing that prices are not declining,” says Sunil Mantri, chairman and managing director of the Sunil Mantri Group. Nirmal Lifestyle, another city-based real estate firm, offers free stamp duty and registration in its Lifestyle City project in Kalyan, on the outskirts of Mumbai. A two-bedroom apartment costs nearly Rs 34 lakh and the...

The National Housing Bank (NHB) plans to set up a mortgage finance company in association with two or three partners including development banks by the end of this fiscal. To start with, NHB has already identified Asian Development Bank and Washington-based International Finance Company (IFC) as prospective partners and is looking for a third strategic partner for technical expertise, who will have a 36 per cent stake in the proposed entity, according to Chairman R V Verma. Briefing reporters, he said, “we are hoping for approval from Foreign Investment Promotion Board (FIPB) by December-end and the company will be set up by March 31 next year with initial capital of Rs 120 crore and authorised capital of Rs 750 crore.” Currently, NHB is wholly owned by Reserve Bank of India (RBI) and is in the business of refinancing to banks and housing finance companies (HFCs) in case of default by home loan mumbai borrowers. The application for mortgage finance company will be sent...