HDFC makes home loans cheaper: Loans will now be available at 6.75% interest, up from 6.80% earlier, Kotak also cut interest rates this week
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From last week to this week 3 companies have reduced interest rates on home loans
Most consumers are currently looking for homes with a budget of Rs 50 lakh.
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HDFC, the country's leading housing finance company, has made home loans cheaper. The customer will now be able to take home loan at 6.75% interest rate. So far these interest rates were 6.80%.Badminton champion Saina Nehwal's biopic 'Saina' is all set to release in theaters. Parineeta Chopra has played the lead role in the film. The release date of the film was announced a few days back. Now the teaser of the film has been released. This is the first sports biopic of Parineeti's film career.Will be released on March 26th
The film will be released on March 26. On March 2, Parineeti announced the release date of the film with the announcement of the teaser. This is Parineeti's second film to be released in theaters. Earlier, Yashraj Banner's film 'Sandeep Aur Pinki Farar' will be released on March 19. The film stars Arjun Kapoor.
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Information provided to the stock market
The new rates will come into effect from Thursday, the company said in a filing to the stock market. HDFC's total home loan portfolio is around Rs 4 lakh crore. It is at the forefront of implementing cheaper interest rates in the country's banking and NBFC sector.
SBI also reduced interest rates on loans
Earlier, the State Bank of India had recently reduced the interest rate on its home loans. Its home loan interest rate is 6.70. Kotak Mahindra Bank also slashed home loan rates this week. The last 6-8 months have seen a surge in house sales. Banks and NBFCs are cutting interest rates for the same reason.
Reduction in stamp duty charge
In fact, many states, including Maharashtra, have drastically reduced stamp duty and registration charges. In Mumbai, the stamp duty is now 3 per cent as against 6 per cent earlier. Most of the reductions will only apply until March 31. So the consumer is buying a home. It also comes with other features. Some banks and NBFCs have waived processing fees.
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The price of the house dropped
House prices have dropped this time around. So consumers are pushing to buy a home. Some reports suggest that home demand could pick up this year. Areas like Mumbai, NCR and Bengaluru have seen the highest sales of houses in the last six months. Most consumers are looking for a home with a budget of Rs 50 lakh. Similarly, the sale of small houses is increasing. However, the demand for commercial property has not yet picked up.
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