PNB Housing Finance has announced reduction in interest rates on home loans and and loans against by 15bps for existing customers. The mortgage financer has taken this step to help its customers amid COVID-19 pandemic and to reenergise growth in the housing sector. Irrespective of their base loan amount over 2.35 lakh customers are expected…
The end of the second phase of lockdown has brought good tidings for over 100 projects in NCR which have been in advanced stages of construction but had to meet an abrupt halt. Construction in all these projects has now restarted after getting necessary permissions from authorities. These permissions envisage the fulfilling of various mandated…
The country’s largest lender State Bank of India has slashed the benchmark lending rate by 15 basis points and has launched a special deposit scheme, ‘SBI Wecare Deposit’ exclusively for senior citizens. SBI has introduced this scheme in the retail term deposit segment with the aim to safeguard the interests of elderly people with a…
After the much-awaited relaxation in lockdown norms, construction work in Delhi-NCR is set to resume at a gradual pace. With the recent Delhi government’s nod on resumption of construction activities, the projects sites in national capital have started witnessing gradual activities. Finally, after more than a month of continuing nationwide lockdown, the unemployed construction workers…
Amid COVID-19 Lockdown labour shortage has emerged as one of the biggest issues for the real estate sector as the stranded labourers are waiting to return their villages despite the government has now allowed to start construction activities even in the red zones. Such a situation may result in delay in delivery of projects. Further,…
Varanasi Smart City has hired Chennai-based ‘Garuda Aerospace Private Limited for air spray of sanitizer through drones airlifted from Chennai through Air-India Cargo flights with special permission from Ministry of Civil Aviation. Spraying of sanitizer through Drones is prioritized for Hot spots and Containment areas followed by Isolation areas, Shelter Homes, Quarantined areas, and especially…
In the fight against Coronavirus outbreak, there has been a visible shortage of face masks, the most important protective gear. However, self-help groups (SHGs) across the country have come forward to fulfil this demand-supply gap. Various SHGs under Deendayal Antyodaya Yojana-National Urban Livelihoods Mission (DAY-NULM) flagship scheme of the Ministry of Housing and Urban Affairs…
Amidst the continuing lockdown in the country, Gujarat is showing the way to emerge out of the crisis. In Surat, over 5,000 construction workers have been provided work at construction sites after out of 200 submitted applications by realtors for permission to start work, 75 applications got approved by the district administration. According to the…
The Coronavirus outbreak and thereafter the nationwide lockdown have not only brought site visits and property transactions to a screeching halt, but also stalled the ongoing construction of the housing projects all across the country— which may result in further delay of delivery. It is also expected that the property prices will also take a…
Amid the COVID-19 taking its toll on real estate sales, the developers in Uttar Pradesh (UP) have requested the local authorities to reduce circle rates, power bills and various other charges, besides stamp duty waivers to help them tide over the crisis situation. They have primarily asked for extension of 12 months for paying interest…
