News
RBI Eases Norms for housing loans up to Rs 10 lakh


These charges constitute around 15 per cent of the cost of the house and place a burden on borrowers.
“With a view to encourage availability of affordable housing to such borrowers, it has been decided that in cases where the cost of the house does not exceed Rs. 10 lakh, banks may add stamp duty, registration and other documentation charges to the cost of the unit for calculating LTV (loan to value) ratio,” RBI said.
As per the current practice, banks do not include stamp duty, registration and other documentation charges in the cost of housing property.
“It has been brought to our notice that these amounts constitute around 15 per cent of the cost of the house and place a burden on the borrowers from economically weaker sections (EWS) and low income groups (LIG),” the central bank noted while easing the norms.
The central bank also said in cases of projects sponsored by government, statutory authorities, banks may disburse the loans as per the payment stages prescribed by such authorities, even where payments sought from house buyers are not linked to the stages of construction.
-
News2 weeks ago
Vegas Mall Brings Dinosaurs to Life with All-New Dino Park Experience
-
News7 days ago
Migsun Appoints MORES as Strategic Sales Partner for Alpha Central in Greater Noida
-
News2 days ago
TRG Group Unveils ₹400 Cr TRG The Mall in NCR
-
News4 weeks ago
NBCC Concludes E-Auction of Aspire Silicon City to AU Real Estate for ₹1,467 crore
-
Guest Column4 weeks ago
Yamunanagar Real Estate: Rising Growth Story in Haryana
-
News3 weeks ago
Delhi-NCR Real Estate Market Steady Amid Slowdown: PropTiger Q1 2025 Report
-
News1 week ago
Shree Cement, RITES Sign MoU to Enhance Rail Infrastructure For Seamless Logistics
-
Guest Column2 weeks ago
Kundli-Sonipat Part of NCR Realty Boom Due to UER II, Delhi Metro, KMP Expressway, RRTS