TOP 5 TIPS TO GET THE LOWEST HOME LOAN INTEREST RATE

December, 2017

 

When the loan is of a high amount, like home loans usually are, even the slightest drop in your loan’s interest rate can make all the difference. So here’s what you can do to ensure that a home loan is offered to you at a low rate of interest.

The interest rate is the make or break factor when you’re selecting a loan. If it’s too high, the source of finance becomes entirely unaffordable. Since you’re looking for aid, you don’t want to end up increasing your financial burden in the long run. So, it is imperative that you focus your energy on securing the lowest interest rate possible when taking a Home Loan.

These 5 tactics will help you get an interest rate that is close to what you have in mind.

LEVERAGE YOUR CREDIT SCORE

 

Having spent all that time ensuring that your credit score is impeccable comes in handy when you’re looking to negotiate your home loan interest. The more stable your credit history, the higher your chances are of getting a Home Loan Interest Rate that is affordable. If your credit score needs work, clear your debts and avoid taking on more debt before you apply for a home loan. Even small things such as avoiding making purchases via a credit card will help.

Credits : freepik.com

CHOOSE A SHORTER TENOR

 

This may seem counterproductive, but hear us out. While it is true that when you have a long tenor your EMIs are low. However, the gross interest paid by you is higher. So, if you can pool in your finances, it is worth opting for a short tenor to keep the interest rate low.

TAKE ADVANTAGE OF SEASONAL OFFERS

 

Instead of jumping the gun, wait it out for a few weeks if possible. This way, you have time to evaluate all lenders thoroughly and pick a home loan that is ideal for you. But more importantly, this gives you a chance to take advantage of seasonal offers. Many financial institutions extend offers or discounts during festive seasons or as limited-period promotions. If you manage to time your application right, you’ll be able to get a significantly lower rate of interest on your home loan. So, if your credit needs are even slightly flexible, it is worth considering this tactic.

LOWER YOUR DEBT-TO-INCOME RATIO

 

As the name suggests, your debt-to-income ratio is a measure of all your debts pitted against your income. Like your credit score, this ratio is also extremely important to maintain. As a thumb rule, ensure that your debts are far lower than your income to assure yourself a good interest rate. But, if your debt component seems high, take measures to clear as much of it as possible. Whether it is an outstanding education loan or a car loan, it is worth the effort to make a few large payments to tip the scales in your favour. With a lower debt to income ratio, you can convince your lender to give you a lower interest rate and find that repaying your home loan is easier than you imagined.

DON’T BE SCARED TO NEGOTIATE

 

If you have steady employment and your financial history is in order, don’t hesitate to verbally negotiate with your lender. You’ll be surprised at how it can help you shave off a few thousand rupees from your monthly EMIs. As long as you’re confident and you meet all the eligibility criteria, this is worth a shot. You have nothing to lose and you may be able to walk away with a better deal than you had anticipated!

With these 5 solutions up your sleeve, lowering your home loan interest rate is no longer a daunting, almost impossible task. For a home loan that truly puts your interests first, take a look at Bajaj Finserv’s Home Loan. It offers flexibility and is incredibly affordable too. Moreover, from 23rd November 2017 to 29th November 2017, you get a rate of interest of just 8.3% if your home loan’s value is above Rs.30 lakh.

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Source – msn.com

VASTU FAULTS THAT YOU SHOULDN’T IGNORE WHILE BUYING A HOME

November, 2017

While it is not possible for all homes to be 100% Vastu compliant, we list the faults that home buyers should not ignore

Is it possible for every apartment that is put up for sale, to comply with Vastu Shastra norms? The answer is no! So, how can home buyers identify which apartments to buy and which one they should avoid, vis-a-vis Vastu norms?

Vastu experts maintain that buyers should preferably focus on the most important rules of Vastu and make alternative arrangements or corrections, for construction aspects which do not conform to Vastu.

“The arrangement of different areas in our home should be as per Vastu norms. Otherwise, it may create unrest in the occupants’ minds, health problems and other problems in life. One should buy a home that at least conforms to 70%-80% of Vastu norms,” advises Vikash Sethi, promoter and CEO, A2ZVastu.com.

Credits : freepik.com

Vastu norms that a buyer should consider, while buying a home:

1. Opt for a house where all the four corners are intact, i.e., without any corner being cut. 
2. Avoid south-west facing homes. 
3. The staircase should always be clockwise and should not be in the north-east direction. 
4. The kitchen should be in south-east or north-west direction. It should not be in the north-east direction. 
5. The master bedroom should be in the south-west direction. It should not be in the south-east direction. 
6. Toilets should be in the north-west direction. It should not be in the north-east direction.

Solutions for homes with severe Vastu faults

A large number of Vastu faults can be rectified, assures Vastu expert Narendra Jain, of Arihant Vastu.

“The faults that cannot be rectified fully without demolition, include problems pertaining to the wrong placement of toilets, kitchens, or staircases, especially if they are constructed in the north-east and if the main entrance of house is in the south/south-west direction,” adds Jain.

Some critical defects can be corrected with pyramids or crystals.

Traditional methods, using mirrors, colours and special metallic wires, can also be used for corrections, depending upon the individual case.

One can also demolish the wrong area and reconstruct it properly. However, this may involve substantial cost, time and complication.

Another Vastu defect is the presence of high voltage wires passing over a house. Astro-numerologist Gauravv Mittal, says that this can be corrected by “Incorporating a plastic pipe filled with lime, from one corner of the affected area to the other, in such a manner that both ends remain outside by at least three feet each, will eliminate the negative effects of energy being generated by the overhead wire.”

To conclude, experts suggest that home owners should not ignore Vastu defects that do not require structural changes, as these can be corrected by making internal arrangements.

Vastu defects that you can rectify, after buying the home.

1. Furniture that is placed in the wrong direction. 
2. Inappropriate colours, including that of the flooring. 
3. Cooking direction. 
4. Direction of toilet basins. 
5. Incorrect direction of the puja room.

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Source - housing.com

MAHARASHTRA BARS CONSTRUCTION WITHIN 100 FEET OF HILL RANGES

 

 

November, 2017

Mumbai : There can be no new construction within 100 feet of foothills across the state. The area will have to be maintained as an open space and reserved as a no-development zone.

Two years after the Pune bench of the National Green Tribunal ruled that no permission must be granted for building construction on hill tops (where the slope ratio is 1:5) as well as 100 feet around the foothills, the state urban development department has directed all municipal corporations and councils across Maharashtra to implement the order.

There are essentially three hill ranges in the suburbs close to Mumbai—the Kharghar range (part of the Sahyadris), the Ulwe hills and those along the Thane-Belapur belt, where quarrying also happens.

A plea had been filed before the tribunal in 2014 following indiscriminate cutting of hills in the Katraj ghats in Pune. In 2015 the tribunal ordered that for 100 feet from the foothills of the hills no building construction must be allowed.

The notification states that urban local bodies whose development plan is under preparation or is being amended must ensure that such area is marked as an NDZ (no-development zone) and reserved as an open space. In areas where development has already been carried out no new permissions can be granted and transfer of development rights must not be permitted. In the approved development plans, such areas must be used only as open spaces and for roads, states the notification.

A Navi Mumbai-based RTI activist, Anarjit Chauhan, said the latest state government notification was a "mockery" of the campaign to protect our natural heritage like hills. "No development within a distance of just 100 feet is too small, and will not serve as any deterrent for encroachers and land sharks. There should be no development for at least 100 metres in order to protect our battered hill ranges," he said.

"As per the existing Maharashtra Regional Town Planning Act, 1966, section 14 (f), there is provision for saving and conserving natural hills, wildlife, landscapes, etc. However, we all know how illegal constructions, mining and suchlike have wrecked havoc upon our forests and hills."

Besides the main hill ranges, there are also smaller hillocks at nodes like Nerul (close to the R R Patil municipal garden) and also towards Dronagiri, Uran and Panvel areas, where rampant development is taking place.

D Stalin, Director, NGO Vanashakti, said Mumbai’s hills have almost disappeared. "The hills have been cut, flattened or have been built upon as in case of Malabar Hill. There are very few hills surviving such as the Worli Hill on account of the water reservoir built here, parts of Antop hill, Dindoshi hills also survive. Powai hills continue to be destroyed," he said.

Stalin said hills hold moisture and water, keep areas cool and are an essential part of the natural landscape. "The order will help save what is still not destroyed," he said.

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Source - magicbricks.com

TRANSFORM YOUR HOME INTO A ‘GREEN’ SPACE

Interested in a more eco-friendly home? You will have to use a combination of structural, lifestyle and gadget changes to achieve the most beneficial and cost-effective results

Every now and then, home owners may need to make modifications to their properties. Such occasions could be an ideal time to incorporate eco-friendly changes that conserve water and improve energy efficiency. There are a number of traditional and contemporary methods that can be used to achieve this.

Ensure proper insulation and ventilation

While the use of glass windows may enhance the visual appeal and thereby, the resale and rental value of your property, they also hinder the efficient working of heating and cooling systems.

One can counter this, by using eco-friendly products, such as cotton garments, plant-based and recycled cloth-based materials, for insulation. “The use of natural cooling methods, reduces energy losses and thereby, the expenses on electricity,” says Delhi-based architect, Ashutosh Kapoor. One should also seal the gaps around windows and doors, to enhance the efficiency of heating and air conditioning units. It will also help, to restrict the entry of mosquitoes, ants and rodents, Kapoor adds. False ceilings, cavity walls and lofts also work well, to insulate your house and keep the temperature balanced.

Monitor your cooling system

You can significantly reduce the load on your air-conditioners, by ensuring that it is serviced regularly. Air-conditioners consume the highest amount of energy, among all home appliances. Hence, while purchasing one, opt for models that are energy efficient. “An efficient AC will help you save money that you will otherwise pay on the increased electricity bills, in case you buy a normal AC,” explains a research associate at The Energy and Resources Institute (TERI), requesting anonymity.

Credits : www.freepik.com

Use alternative sources of power, such as solar cells

If you have an independent property or if you can use the roof in your apartment, you can install solar panels, which can be used to heat water and power light bulbs in the common areas. A variety of photovoltaic panels are available in the market. Some can also be placed on window panes, in balconies, or mounted on columns, etc., where there is enough sunlight, suggests Kapoor.

Use energy saving appliances

Energy saving appliances and devices, such as light emitting diodes or compact fluorescent lamps, can be used to reduce energy consumption. Choose appliances that have a higher energy star rating. The additional cost spent on these appliances, can be recovered through the savings on electricity bills.

Keep plants in your house

A house, with a roof that is covered with shrubs and trees, will be cooler than a simple concrete house. To achieve this, one can make use of effective landscaping and by keeping earthen pots with plants that provide shade and plants that absorb extra moisture during humid months. Always choose from native vegetation, specific to your area.

Conserve water

If you have an independent house, you can prepare underground storage tanks for harvesting rainwater for later use. You can also conserve water, by installing aerators to faucets, changing to low-flow showerheads and by using bathing or shower water for flushing toilets.

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What's next for - India's office market?

September, 2017

Mumbai

CBRE along with CII launched a report recently on 'real estate 2020' and highlighted how the following themes will define the office market by 2020:

Advent of technology

With new and innovative technologies such as artificial intelligence, big data, data science, the internet of things, cyber security and cloud computing, etc. being adopted by corporates, mundane backend and regular business processes are becoming increasingly automated.

Rising agility

Occupiers, while continuing to expand or consolidate their operations in India, have become increasingly cautious, while deciding their real estate footprint. This cautious sentiment, in turn, has resulted in rising agility across all aspects of office space requirements: space usage, workplace design, leasing structures and even location.

Credits : www.freepik.com/

Innovative workplace strategies

Co-working space in particular is also expected to act as a key 'differentiator' to attract talent, especially the millennials. It is expected that with occupier focus on business operations over real estate decisions, increasing occupier awareness of co-working as an alternate option, the rising acceptance of remote working and an increased preference towards flexible leasing terms will be factors that will drive demand for co-working spaces.

The rate of enthusiasm on home credits is by and large in the scope of 9-12 for each penny, contingent upon the sort of moneylender and the profile of the borrower. The rate of enthusiasm on advance against property, is for the most part higher than home advances however lower than individual credits. The rates may change from 11-14 for every penny, again relying upon the kind of bank and profile of the borrower.

Increased transparency

It is anticipated that with the implementation of RERA and future REIT listings, there would be a paradigm shift in the mindset of the global investor. The risk associated with Indian real estate is likely to reduce, given that only leading, trustworthy developers with proven track records would be operating in the coming years.

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HOME ADVANCE VERSUS ADVANCE AGAINST PROPERTY - CRUCIAL CONTRASTS

Reason

A home advance is taken with the end goal of either purchasing a prepared to-move-in house or with the end goal of booking an under-development property. Home advances are accessible for private, and also business properties. Then again, an advance against property is for the most part taken, with the end goal of raising extra supports for business. The credit against property might be gotten in two structures. It can be an unadulterated advance, under which, a single amount is paid to the borrower, against the security of a steady property. On the other hand, a credit extension might be set up as an overdraft office with a set cutoff, in light of the estimation of the property and reimbursement limit of the borrower.

Credits against property may likewise be gotten for individual purposes like training or marriage in the family. An advance against property can likewise be benefited, to fund the buy of another property, on the off chance that it is unrealistic to get a home credit against the property, because of any specialized reasons like imperfection in the title of the property being bought. The security swore, for taking a credit against property, might be a private or business property. If there should arise an occurrence of a home advance, the property to be obtained is swore with the bank, though in the event of a credit against property, another property is promised and not the house that is being bought.

Tax breaks of home advances and advance against property

For home credits taken to purchase a private house property, the borrower can assert twin tax reductions under the wage impose laws. The primary advantages is for the reimbursement of the foremost segment of the home advance, which is accessible under Section 80 C, upto Rs 1.50 lakhs for all the private properties taken together. This reasoning of Rs 1.50 lakhs is accessible alongside other qualified things like open provident reserve, commitment towards representative provident store, life coverage premium, school expense for kids, national investment funds authentications, ULIP, ELSS, and so forth. The other advantage is accessible under Section 24(b), for the intrigue paid on such advances. This advantage can be benefited notwithstanding for business properties and furthermore on sums acquired from companions and relatives.

For a credit against property, the accessibility of tax reductions will rely upon a definitive utilization of the cash acquired. On the off chance that the cash is utilized with the end goal of your business, the premium paid and the accidental costs, such as handling expense and documentation charges, can be guaranteed as business consumption under Section 37(1) of the Income Tax Act. In the event that the advance is utilized for individual purposes like marriage or instruction of your kid, the enthusiasm on the same can't be asserted under the present assessment laws. On the off chance that the cash is utilized with the end goal of financing another house property, at that point, the same can be guaranteed under Section 24(b) of the Income Tax Act. The premium claim would be permitted, just in the event that you are convincingly ready to build up the connection between the cash obtained and its definitive utilize.

Nonetheless, you can't assert any advantage for the key reimbursement on an advance against property that is taken to back another house, as the cash acquired can't be dealt with as a home credit.

Credits : www.freepik.com/

Edge necessities and rate of enthusiasm for home credits and advance against property

To shield themselves against a decrease in the market estimation of the benefit, loan specialists don't loan the full estimation of the security/fundamental resource. This distinction that the loan specialist holds while loaning, is known as the edge. The edge cash on account of a home advance, is the cash that the borrower should fund without anyone else. The edge necessity for home advances is by and large controlled by the Reserve Bank of India, on account of banks and by the National Housing Bank, on account of lodging fund organizations. The edge cash likewise relies upon the measure of home advance profited. The most extreme advance that a loan specialist gives, is just upto 90 for every penny of the estimation of the property. Along these lines, the purchaser needs to put in 10 for each penny. For high-ticket home credits, the edge necessity can increment to 25 for every penny. For advance against property, which is not secured under need area loaning, the banks need to keep a higher edge, which can run from 24-40 for each penny of the property.

The rate of enthusiasm on home credits is by and large in the scope of 9-12 for each penny, contingent upon the sort of moneylender and the profile of the borrower. The rate of enthusiasm on advance against property, is for the most part higher than home advances however lower than individual credits. The rates may change from 11-14 for every penny, again relying upon the kind of bank and profile of the borrower.

Henceforth, a home credit is the best choice, for people who need to purchase a readymade house or book an under-development property. Nonetheless, on the off chance that you have any title imperfection in the property to be bought, you can back the same by method for an advance against your current property.

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APRIL-AUGUST 2017 SAW PROPERTY REGISTRATIONS IN MAHARASHTRA GROWING BY 28%

As per the Inspector General of Registration and Controller of Stamps (IGR) department, property registrations in Maharashtra in the first five months of the financial year 2017-18 registered a 28 percent hike as compared to the last year.

About 158,051 property registrations were recorded in April-August 2017 as against 2,01,764 property registrations reported during the same period in the last financial year.

Experts state that the implementation of the Real Estate (Regulation and Development) Act (RERA) was the primary reason for the increase in registration numbers.

Jaxay Shah, Presient, Confederation of Real Estate Developers' Associations of India (CREDAI), has stated that the high number of registrations of ongoing projects under Maharashtra real estate regulatory authority (MahaRERA) would push up the demand for properties among homebuyers in the coming months.

MahaRERA officials share that about 12,500 ongoing projects, covering over 15.5 lakh properties in the state, have aoolied for registration under RERA.

Credits : 99acres.com

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Satyam Building, 2nd Floor, M G Road,
Opposite Navpada Telephone Exchange, Above Punjab National Bank,
Naupada, Thane West - 400601
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Source - 99acres.com

62-OF-NEW-LAUNCHES-IN-FIRST-HALF-OF-2017-IN-AFFORDABLE-SEGMENT-REPORT

Mumbai

As many as 62 percent of the new launches during January-June 2017 period were in the affordable housing segment, a recent survey revealed.

According to a report by Anarock Property Consultants, the affordable price segment dominated the residential units supply in H1 2017.

Credits : freepik.com

"The recent new launches trend shows that demand for affordable housing with ticket sizes in the range from Rs 5 lakh to Rs 40 lakh is continuously growing," the report said.

During the first half of the year, the top seven cities including Bengaluru, Chennai, Hyderabad, Mumbai, Delhi-NCR, Pune and Kolkata, recorded more than 60 percent of total residential units supply in the affordable segment.

"The majority of projects in the affordable housing segment were launched in the peripheral boundaries of the top cities, largely due to non-availability of contiguous land parcels for large-scale mass housing developments and skyrocketing property prices in the central locations of our cities," it said.

The report said that in the H1 2017, the share of the affordable housing segment in new launch supply increased by 16 percent over the July-December period of 2016.

On the other hand, the mid and luxury segments witnessed a decrease of four percent and nine percent, respectively, in the same duration, it said.

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Source - magicbricks.com

Squarefeet Group

Satyam Building, 2nd Floor, M G Road,
Opposite Navpada Telephone Exchange, Above Punjab National Bank,
Naupada, Thane West - 400601
Maharashtra, India

+(91)-22-25452903, 66543333

info@squarefeetgroup.in

STEP BY STEP INSTRUCTIONS TO MAKE YOUR HOME PET-ACCOMMODATING

Property holders who wish to keep pets at home, need to guarantee that their home takes into account its needs and gives a sheltered domain to all. We clarify the rules and regulations

Other than giving brotherhood, there are additionally remedial advantages of owning a pet. In any case, owning a pet is likewise a dedication and a duty. Thus, mortgage holders ought to guarantee that the house is sheltered and agreeable for their pets. Despite the fact that a pet can flip around your home, things by and large change as the pet grows up and you figure out how to conform to its conduct and needs.

Wooden ground surface is generally elusive. Pets love to circled and wooden deck may cause genuine damage. In this way, maintain a strategic distance from it.

All staircases must be blockaded, to keep little pets from moving down or attempting to move up, unattended. Additionally blockade all flame broils that disregard bring down floors, as your puppy may endeavor to hop down. All overhangs and windows with wide flame broils, must be coincided so puppies can't experience them.

Credits : freepik.com

Securing your home's style

Individuals with mutts or felines at home, are probably going to find that their couches are secured with hair, regardless of how frequently they vacuum the house. Thus, settle on couch covers that can be taken off and washed every so often. When you have visitors at home, you can evacuate these spreads.

To keep the house perfect, one ought to likewise assign a feasting range, a latrine territory and a comfortable dozing zone for your pet. To guarantee that they don't ruin the floor with pee or crap, proprietors should begin potty preparing from the main day the pets get back home. Constant and right preparing for the initial couple of days is imperative.

Most pets will tend to walk directly into glass. In this way, put an iced film, or a decal on the glass to keep away from mishaps. Pets can likewise get hurt by swinging entryways or get secured a room. In this way, utilize entryway plugs that are overwhelming, so the pet won't have the capacity to play with them.

Guaranteeing solace for your pets

Felines and little cats tend to scratch, to hone their paws. Purchase a scratch cushion, with the goal that they don't scratch your furniture. Guarantee that strings on window ornaments and wires don't hang at a low level. Keep little questions, stationery and kids' toys, pharmaceuticals and family unit cleaners far from your pets' compass to keep them from gulping these articles.

Birdcages ought to be avoided windows, to shield the pet from the sun's warmth and rain. Aquariums ought to likewise be avoided coordinate daylight, to keep the development of green growth, which will influence the water to green. While painting, cleaning or doing irritation control treatment, keep the fish tank away, as the chemicals noticeable all around may slaughter the fishes. Additionally, keep the tank far from wellsprings of noisy commotion and check the electrical gear of the tank frequently.

Tips for property holders with pets

1. Vacuum-clean the house frequently.
2. Hard ground surface and against slip tiles are perfect for homes with pets.
3. Provide ventures for pets to climb onto high furniture. Else, their nails can tear the upholstery when they have a go at climbing.
4. Protect the pets by covering sharp edges of furniture.
5. Store family unit chemicals in a bolted bureau and keep crystal and lit candles far from the pets' scope.
6. Use wide and low wicker crate to store all the pet's toys and to abstain from jumbling the house.
7. Most basic family plants are toxic to canines. Thus, keep plants like jasmine, poinsettia, castor bean, lantana, philodendron, and so forth., out of their scope.
8. Keep dustbins and latrine covers shut. 

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Source - housing.com

 

Squarefeet Group

Satyam Building, 2nd Floor, M G Road,
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REALTY WAKES UP FROM A SLUMBER, HINTS AT REVIVAL

MUMBAI : A slew of measures initiated by the government such as interest subvention on affordable housing, steps to eradicate black money and prop up end-user demand for residential real estate are translating into better sales in the country's top-8 cities, indicating a revival in growth, several reports by property consultants and research firms have suggested.

Residential sales across top 8 cities of the country have increased 6% on a sequential basis in the second quarter taking the total growth to around 28% post demonetisation last year, showed data from Liases Foras Real Estate Rating & Research.

The sequential growth assumes significance as the rise was recorded after the 21% increase witnessed in the last quarter. This is despite the disruption of implementation of Re a l E s t at e ( Re g u l at i o n & Development) Act, 2016, and goods & services tax (GST). On an annual basis too, the rise in sales stood at 4% during the quarter.

Another recent report by Knight Frank India had also showed that residential sales, led by affordable housing, have gathered pace and have shaken off the woes of demon etisation. While sales across top eight cities during the first half ended June are down 11% on-year, they have risen by the same proportion when compared with JulyDecember period that was marked by the demonetisation shock, Knight Frank India said.

According to Liases Foras, Mumbai Metropolitan Region (MMR) constituted 24% of the overall sales in tier I cities, recording the highest number of sales at 15,824 units -this is the highest sales figure the region has clocked in the past seven years. This is also the third best performance of the region ever in terms of sales after June 2009 when it had registered 21,000 units, and September 2009 when it saw 17,000 units being sold.

“Post-Lehman crisis, market had corrected almost over 30% and had adjusted itself to see more affordable home launches. Similar feat is being repeated, albeit this time the adjustment is more through time correction as the prices have remained stagnant for the last three years. In addition to this, we are again seeing good amount of affordable home launches spurred by the government initiatives,“ said Pankaj Kapoor, managing director of Liases Foras Real Estate Rating & Research.

In the Union Budget 2017, the government accorded infrastructure status to affordable housing segment. On New Year's eve, Prime Minister Narendra Modi had announced the government's decision to provide interest subvention of 3% and 4% for loans of up to `12 lakh and Rs 9 lakh, respectively, under the Pradhan Mantri Awas Yojna.

Country's largest mortgage lender HDFC saw Individual loan disbursements growing 21% during the quarter ending June. The average size of loans stood at `26.3 lakh, an indication of the rising prominence of affordable housing demand.

According to Keki Mistry, Vice Chairman & CEO of HDFC, post demonetisation, the individual disbursement growth trajectory began normalizing during the first quarter ending March.

“Given that interest rates are lower and property prices have not moved up for long, homebuyers are showing keen interest in buying houses on the back of incentives provided by the government,“ Mistry said. Mortgage lender Indiabulls Housing Finance also witnessed a 39% on-year jump in its loan disbursements for the quarter ended June after recording 28% growth in the preceding quarter.Over the past one year, housing loan interest rates have eased over 100 basis points and this has also prompted homebuyers to act.

While sales have been improving, supply numbers are easing due to slower pace of new launches.Inventory levels across tier I cities de creased to 44 months in the June quarter from 47 months in the previous quarter.

However, it still re mains far away from the desired 8-10 months market inventory indicating continued stress on pric ing hereon. Prices are likely to remain sub dued, which would rather help in improving sales volumes.

Affordable segment with properties priced below `25 lakh across the eight cities contributed to 17% of overall sales compared with 16% in the previous quarter. MMR recorded maximum sales in the affordable category at 24% of total sales followed by Pune at 22%.Sales in the cost bracket of `50 lakh to `1 crore increased marginally by 1%.

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Source - realty.economictimes.indiatimes.com

Squarefeet Group

Satyam Building, 2nd Floor, M G Road,
Opposite Navpada Telephone Exchange, Above Punjab National Bank,
Naupada, Thane West - 400601
Maharashtra, India

+(91)-22-25452903, 66543333

info@squarefeetgroup.in