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New Way to tackle Realty slowdown
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Nowadays global real estate market is facing slowdown due to mounting rate of home loan and increasing prices of property. But in the midst of this crisis according to the sector watchers Joint Home Loan is very helpful to get out from the crisis. Joint home loan not only increases your finances but also extra tax benefits. Common man’s dream home has badly destroyed due to high rates of property and interest. When it comes to interest and particularly to floating interest rate it increases the monthly installments and made individual buyer distrustful. In this scenario individual buyers are looking to transform their reality into the realty dream. So according to the analysts view joint housing loan remains the only option to the individual buyers to increase funds, propose more flexibility in repayment apart from the extra benefits. According to the income Tax Act deduction on borrowed capital is allowable only in case when it borrowed for the purpose of property purchase, const...
Basic rules to plan loan
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We are currently witnessing a high rate of growth in loans, with lending firms expanding in size and presence as they attract more and more investors. The business plans of many finance companies include personal loans as the biggest items of growth. It is important to realise that loans don’t need to be viewed as evil. So, even though every financial planner has advised you to abstain from borrowing, you can dispense with this learning and see how you can use it as a tool to build assets. The demand for loans comes from two primary household needs—liquidity seekers, who have locked up money in assets and want to release it for other uses—and asset builders, who like to use a loan to build an asset. It can be assumed that the boom in savings and investments in recent years has not been guided by the principles of asset allocation. This translates into a growing market for rebalancing and re-jigging, where the preference will be towards holding the asset while taking a loan against it,...
BMC to revise FSI
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Mumbai: Municipal Commissioner Subodh Kumar has given another blow to the city developers that civic body is discussing to revise Development Control Right (DCR) 1991. As under DCR rules developers are getting concession on FSI for their projects. Regarding this issue several meetings were held with the concept of extra FSI under DCR (35). Under this section several parts like lobby, elevator, flower beds, ducts, and balconies are not counted in building’s FSI. Whereas lobby, staircase and such other parts are excluded from the building’s FSI. “We are discussing to revise in DCR 1991 in which those places are free of charge will be charged” as civic bodies said. According to the Municipal Commissioner that those excluded parts from charges should be charged so that BMC can earn some revenue. And BMC can invest in capital intensive projects, where it will add value to the city and its citizens. Not only civic body but also activists from entire city considered it as a welcome step. If ...
Central Registry for Loans
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Setting up of Central Electronic Registry under the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act 2002.Pursuant to the announcement made by the Finance Minister in the budget speech for 2011/12, Government of India, Ministry of Finance notified the establishment of the Central Registry. The objective of setting up of Central Registry is to prevent frauds in loan cases involving multiple lending from different banks on the same immovable property. This Registry has become operational on March 31, 2011. The Central Registry of Securitisation Asset Reconstruction and Security Interest of India (CERSAI), a Government Company licensed under section 25 of the Companies Act 1956 has been incorporated for the purpose of operating and maintaining the Central Registry under the provisions of the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 (...
A Cosmos Realty Corporation - Mumbai, India: Buyback Proposal
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