Home loan providers are now insisting on construction-linked disbursal of funds to new projects, as they look to make developers more accountable after getting stuck in several stalled projects.
A number of developers have either stopped construction midway or slowed down due to shortage of funds and poor sales in 2008 and the first half of 2009. Lending institutions expect the move to help them monitor the progress of construction and make developers accountable, said a senior executive with a public sector bank.
Buyers in such projects are in a difficult situation. They have to pay monthly installments towards the loan without getting the possession of house. They also end up shelling out monthly rents during the period, he said, requesting anonymity.
More : economictimes.indiatimes.com
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NEW DELHI: Bangalore metro rail and the second phase of Delhi metro may figure prominently in Japanese Official Development Assistance (ODA) loans to India this year. The amount of the ODA loans, to be announced next month, is likely to be marginally higher than ODA worth $1.2 bn extended to eight projects last year.
About 10 new projects are likely to figure in the ODA list, a senior Japanese official told ET. Significantly, the increase of the ODA in dollar terms may just be marginally higher compared to the last year because of the depreciation of yen against US dollar
With most developers trying to revive the sagging realty market by offering discounts and affordable housing, its the best time to go for your dream home. But its not just the primary market that can fetch you great deals. In fact, the secondary real estate market too can offer you a good bargain. A correction of 15-20% or even higher has taken place in the secondary market, according to experts. But dont rush in. Make sure that a thorough check has been done before the property gets transferred in your name.
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It is more than two years since Kamal Sachdeva and brother Harish booked villas in Faridabad, an industrial area south of New Delhi that is fast becoming a housing destination, with Pal Infrastructure and Developers Pvt. Ltd.
Sachadeva made a down payment of Rs3.5 lakh and was promised possession of a 1,200 sq. ft house built on a 1,350 sq. ft plot by the end of 2007. He says not only has he not yet received possession of the property, construction has not started since he made his booking in February 2007.
Some four months ago, Sachdeva, a finance professional with a
After Gurgaon, Faridabad would be linked with Delhi via the metro subway and its industries revived under a SEZ development plan on the lines of IMT Manesar, Haryana Chief Minister B S Hooda said today.
After Gurgaon, Faridabad would be linked with Delhi by the metro rail network, he told a meeting of the Faridabad Industries Association.
He had directed officials to carry out a feasibility study on linking Faridabad with Delhi by metro, the Chief Minister said.
He also announced that the foundation of a gas-based 1050-MW power project by ABL Lloyd Company would be laid here on August 25 and be
The United States has said it has made some progress on a proposed agreement to operationalise the civil nuclear deal with India but there is still some work left to be done.
I dont have a detailed readout for you. I know that they did make some progress, but theres still work left to be done, State Department Spokesman Sean McCormack said.
He was asked about the latest visit of Under Secretary of State for Political Affairs Nicholas Burns to India for talks with Foreign Secretary Shivshankar Menon on the 123 Agreement and the status of the negotiations.
More : dnaindia.com
