#RealtyNewsRoundup: SBI Cuts Home Loan Interest Rate By 10 Bps
Description
State Bank of India (SBI) on April 9 reduced lending rates by five basis points (bps) across all tenors, effective April 10. The new one-year marginal cost of funds-based lending rate (MCLR) is down to 8.50 per cent now. The bank has also re-priced home loans up to Rs 30 lakh by 10 bps. Accordingly, interest rate on such loans will now be in the range of 8.60-8.90 per cent. Earlier, Indian Overseas Bank and Bank of Maharashtra also lowered their loan prices by five bps.
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Auditors going through the books of embattled Amrapali Group have told the Supreme Court that the realtor paid up 30 per cent of a unit cost to marketing agents. Large amounts collected from homebuyers were also deposited in accounts of family members of the top bosses, a report by the auditors reveals.
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When compared to 2017, the Brihanmumbai Municipal Corporation (BMC) received 26 per cent more civic complaints in 2018, reveals a report. The report by non-governmental organisation Praja Foundation also reveals that the BMC now takes 46 days to address each complaint.
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State-run National Building Construction Company (NBCC) has sought time of two more weeks from the committee of creditors to submit a revised bid of Jaypee Infrastructure, a move that would further delay the insolvency resolution process.
Source: Media reports
