PNB Housing Finance has raised Rs 500 crore by issuing bonds to World Bank arm IFC for funding its green residential projects. "PNB Housing Finance has issued secured fixed rate NCDs to International
Every policy relies on explicit or implicit assumptions about how people make choices. Those assumptions typically rest on an idealized model of how people think, rather than an understanding of how everyday
The housing shortage in the urban areas has touched 18.78 million units, where 95% of the shortage is in the economically weaker section and low income group, says this report by the National Housing Bank (NHB).
The Ministry of Housing and Urban Poverty Alleviation has invited comments/feedback on this draft 'Model State Affordable Housing Policy for Urban Areas ’by October 16, 2013. It aims to create an enabling environment for providing “affordable housing for all” and also promote Public Private People Participation (PPPP) for addressing the shortage of adequate and affordable housing.
The World Bank has signed an agreement with the Indian government to provide a USD 100 million loan to help low-income families secure housing loans. "The Loan and Project Agreements for World Bank
The paper provides a review of the literature that links housing, housing finance, and economic development. The housing sector may support poverty reduction and inclusive growth in two general ways. First,
Bank Loans To Applicants Have Not Gone Beyond 20% So Far The state government’s ambitious move to scale up the affordable housing project from 1.25 lakh homes to five lakh houses has boomerang, putting
RBI has allowed companies to raise up to $1 bn but hedging of costs could make this unattractive for borrowers Though the Reserve Bank of India has allowed real estate developers and housing finance companies to raise up to $1 billion (Rs 5,400 crore) via external commercial borrowing (ECB), hedging of costs could make this unattractive for borrowers. "It looks very difficult to raise funds through this new window. Monitoring use of funds is going to be a challenge. Also, there is a question mark over preparation and ability for managing currency risks even through hedging," said S Srinivasaraghavan, head, treasury, Dhanlaxmi Bank.
The government is considering a proposal to allow debt restructuring for real estate projects that face delays due to sovereign clearances. It is also considering creating a sub-category of commercial real estate-housing to allow an extended repayment period to developers. As per the current policy, any loan given to developers for non-infrastructure sectors turns into a non-performing asset (NPA) when the project gets delayed by more than six months after the date of commencement of commercial operations (DCCO) without any payment made to the lenders. The DCCO dates means the time when the developer actually commences construction after getting the necessary approvals. After this period, banks usually declare the loan as an NPA if repayments are not made for a period of 90 days.
New Delhi Attributing the housing boom to easy availability of loans, new housing and urban poverty alleviation minister Ajay Maken on Wednesday said that the housing bubble could burst in the absence of proper planning. As per the latest figure, he said, the number of vacant houses in the country were rapidly rising and already accounted for 11% of the total housing units in developed areas where middle and upper middle class people live. This is like a bubble which can burst any time.
