HDFC Reduces Prime Lending Rate By 20 Bps To Boost Loan Offtakes

By bajaj Investors 

Housing Development Finance Corporation (HDFC) on Friday reduced its retail prime lending rate on housing and non-housing loans by 20 basis points. The prime lending rate is the rate on which commercial banks lend to their customers. The private sector lender's adjustable-rate home loans are benchmarked against the retail prime lending rate. "The change will benefit all existing HDFC retail home loan and non-home loan customers," HDFC said in a statement. Recently, State Bank of India (SBI) cut its marginal cost of funds based lending rate by 25 basis points across all tenors. Industry experts say property sales have slowed, resulting in a high stock of unsold inventory. Tight funding conditions are straining developers' ability to complete projects and by extension their solvency. The can largely be attributed to COVID-19 pandemic which impacted investor sentiments as well as a slowdown in the Indian economy since last year. With pay cuts and job losses becoming pervasive, the residential and retail real estate segments will have to chart an arduous journey towards recovery, according to Knight Frank India. Source: Businessworld.in

Chandigarh

Chandigarh Real Estate Stretching Boundaries Zirakpur, Panchkula ,Mohali & New Chandigarh

By Bajaj Investors 

Being lived in small town, I always dreamt to live in the place which could be beautiful, clean, endowed with opportunities & more importantly development oriented.Chandigarh, Which is elegant, spotlessly clean, Job oriented and it seems like finally i found out the beautiful smart city . 'Chandigarh' the neighbour of Himachal Pradesh, Jammu & Kashmir, Punjab, Haryana,Delhi & Uttarakhand.Chandigarh itself is a big city, but Interestingly, Now, In contemporary phase Chandigarh stretched its boundaries, New chandigarh, Mohali & Zirakpur are being developed as Chandigarh.High Rise Residential, Commercial & Industrial Development have been established in these TRI-CITY. In the developing phase of streached Chandigarh, I feel so blessed to being the spectator of the developing phase of the fore sure prominent Cities and for me this is a historic phase so indeed I would definitely narrate the developing stories of chandigarh  to next generation. NEW CHANDIGARH, MOHALI, ZIRAKPUR are cities of  stretched chandigarh. Schools, Education institutes, Entertainment points and Medical Facilities all are found in these cities so that no need to go chandigarh for particular reason. Govt and Private players are creating infrastructure &  provide Facilities to deep end.High rise commercial and residential are giant proof of developing cities . India's Top hospitals presence gives big relief sigh to medical related concern. Construction is the core element of infrastructure and Real Estate.Developing Industrial hubs are capable to provide job opportunities and at the same time Real Estate players has been staring in high rise infrastructure for long ago to provide best and amenities enabled. However, Spending time in our town always boosting energy and drawn out positive energy aura behind us as it keeps us away from hustle bustle life to simple living.We all would be definitely attached to our small towns as our family, ancestors, belongings are here.More importantly we spend our precious childhood moments in our birth place, but i dont know why chandigarh seems like my place."

                                               

Real Estate Remains Preferred Asset Class For Investors: Housing.Com-NAREDCO Survey

By Bajaj Invetors

Despite subdued consumer demand amid an economic slowdown, real estate is still perceived as the preferred mode of investment, according to a report jointly released on Wednesday by Housing.com and National Real Estate Development Council (NAREDCO). Nearly 35 per cent of respondents perceived real estate as the preferred mode of investment followed by gold (28 per cent), fixed deposits (22 per cent) and stocks (16 per cent). Homebuyers are likely to slowly return to the market in the coming six months, said the report. The survey was conducted in April and May through a random sampling technique for a fair representation across regions. The insights entirely represent the view of more than 3,000 potential homebuyers. "The real estate consumer remains positive with regard to the economic scenario and income stability for the coming six months," said the report titled 'Concerned, yet positive -- The Indian Real Estate Consumer (April to May 2020).' Price-points of residential realty have remained muted for the past few years but are still a key deterrent with the perception of being still unaffordable. This was the response from nearly half of the potential homebuyers surveyed who are currently staying in rented accommodation. A majority of respondents surveyed (73 per cent) comprise first-time homebuyers who are looking to buy a ready-to-move-in-house for end-use and are from the age group of 25 to 45 years. While 60 per cent of respondents opined that for the next six months, they would prefer a ready-to-move-in property, 21 per cent said they were okay with a property with a delivery timeline of maximum one year. Going forward, NAREDCO believes real estate will be positive for both end-users and investors in the post-COVID-19 world. Those living in rental homes have realised the importance of being in their own homes while NRIs facing challenging times in their present domiciles are looking at creating a safe haven 'back home' in India. Demand for additional space for home offices is on the rise with a need for more efficient layouts. The importance of common amenities, business centres and more open spaces will be an inherent part of the new demand criteria in the post-COVID-19 world, said the report. "We are witnessing volatility in equity markets globally but the value of properties in the real estate market has managed a stable stance," said Ram Raheja, Director of S Raheja Realty. "This is because unlike other asset-classes, real estate is tangible in nature and this strengthens the factor of security and better return on investments." (ANI) Source: Business World

Chandigarh