Late last month, the State Bank of India (SBI) announced a reduction in its home loan interest rates by five basis points, to 8.3% for home loans up to Rs.30 lakhs. This is the lowest in the industry and came into effect on Nov 1, 2017. New customers looking out for home loans will be benefitted from this reduction.
Let us consider a sample scenario, Mr.Gupta has planned to purchase a house which is under construction and is expected to be completed in 3 years. He plans to take a loan for the house but is unsure of the better repayment schedule to opt for.
Chennai is working population is filled with techies, and the mecca for techies here is the IT corridor in OMR.
With an aim to create a corpus to fund housing projects for the weaker sections of the society, the Government of Tamil Nadu has proposed a shelter fund cess from land development projects and industrial projects of a certain size.
It is that time of the year again - the smell of wet mud, blossoming greenery and brimming rivers and lakes.