Teaser loans gone: SBI home loans plunge 28%

The discontinuation of SBI’s (State Bank of India) Teaser loans (namely Easy Home Loan and Advantage Home Loan scheme) has impacted growth in the bank’s home loans segment. In April growth in the bank’s loan book was about Rs 1,000 crore, down 28% from the Rs 1,400 crore av…

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ASK Property Domestic Realty Fund

ASK Property Investment Advisors raises  Rs. 520 crore for domestic realty fund ASK Property Investment Advisors has raised Rs 520 crore for a domestic realty fund, becoming the first fund among half-a-dozen such realty PE funds waiting in line, to raise money from rich inv…

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Major of households Mumbai, can't afford to buy a flat

Nearly 60%  of the Mumbai city households earn less than Rs 80,000 annually, and the income of 19 per cent of those at the bottom of the pyramid is so low that they cannot afford to buy a house. This was revealed by a CII and Jones Lang Lasalle report on the real estate sec…

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Haryana Governor supports direct purchase of land by investors

Haryana Governor Mr. Jagannath Pahadia  supported the West Bengal government’s decision to let investors purchase land directly from land-owners instead of the government acquiring land on their behalf. Mr. Jagannath Pahadia Said, “I am not thorough about chief minister Ma…

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Chinese govt. planned to build 3.6 crore affordable housing

Chinese real estate developers kept their distance from repeated appeals by officials to accelerate the country's affordable housing construction. About 30 out of 100 housing developers had participated in the affordable housing construction from 2007 to 2010. Chinese …

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Indian Real Estate Regulation Bill may be further delayed

The proposed Inidian Real Estate Regulation Bill may be further delayed. The ministry of housing and poverty alleviation, which was set to table the draft bill during the Monsoon session of Parliament, is yet to get the law ministry’s opinion on it. The draft Bill was sent…

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Demand for Indian home loans set to dip

In the current 2011, as the indian housing market in the West slowly picks up, the Indian market may be in for slack. SBI  ( State bank of India) withdrew its home loan scheme with effect from 2011, May, after RBI ( Reserve Bank of India ) raised concerns on the borrowers&…

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Global investors pulled out $138 Crore from India focused equity funds

Global investors continued to withdraw their money from India-focused equity funds in the first six months (January-June) of 2011. They pulling out USD 138 crore even as inflows into funds targeting developed markets touched nearly USD 5,000 crore. According to internation…

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Taxpayers can now file returns through Cell phones

Online income tax return filing company TaxSpanner today announced launch of mobile version of its solution that would enable users to file income tax returns (ITR) from their handset. Mr. Ankur Sharma, CEO, TaxSpanner said, "After introducing the eFile by eMail option…

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Salaried individuals with less than Rs. 5 lakh, NoTax file returns- Is it useful ?

Salaried peoples with taxable income of less than Rs. 5 lakh will not have to file income-tax returns in the current assessment year (2011-12). The finance ministry notified the scheme on recently, spelling out the conditions for the exemption announced in the Budget 201…

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