With reference to the rise of the property rates across the major and other key locations of the country, the Associated Chambers of Commerce and industry of India (ASSOCHAM) has sent a proposal to the Reserve Bank of India to increase range of home loans on priority segments. According to the sources of www.propertykhazana.com this suggested cap was asked to be in the range of Rs. 20 lakhs to Rs. 40 lakhs by the group at least for the metros locations of Delhi, Mumbai, Kolkata and Chennai. For the metro cities the association has asked to increase the limit to Rs. 40 lakhs due to its high increasing rate of properties which in turn constitutes around 93 percent of total investment.
Source of www.propertykhazana.com also reveals that recently RBI has made enhancement of Rs. 20 lakhs for the priority sectors at major location of India. Further it says that the there should be appropriate measures to check the fund allotment to various consumers as at no circumstances the amount should increase the limit of Rs. 20 lakhs each. At the same time RBI has also made an injection of Rs. 4000 crore to National Housing Bank for the easy availability of the funds for the number of on hold and pending projects.
Along with this the govt. has proclaimed few initiatives with varied priority ranges to support the injured health of realty in India. For Rs. 5 lakhs slab targeted interest will be 7 percent and for the loan exceeding Rs. 5 lakhs will touch 8 percent interest as per the new norms. For more and latest realty updates visit www.propertykhazana.com.
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