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HDFC disburses Rs 1,100 crore subsidy to 51,000 home buyers under PMAY

HDFC disburses Rs 1,100 crore subsidy to 51,000 home buyers under PMAY

Finance
NEW DELHI: Housing finance firm HDFC said Sunday it has disbursed over Rs 1,100 crore subsidy to over 51,000 customers under the government's flagship scheme Pradhan Mantri Awas Yojana (PMAY). HDFC has provided loans of over Rs 9,800 crore under PMAY-Credit Linked Subsidy Scheme (CLSS), to these customers belonging to EWS (Economically Weaker Section), LIG (Low Income Group) and Middle Income Group (MIG) category, the housing finance firm said in a statement. It further said HDFC during the quarter ended September 30, 2018 approved 37 per cent of home loans in volume terms and 18 per cent in value terms to customers from the EWS and LIG segment. The company on an average has been approving 8,300 loans on a monthly basis to the EWS and LIG segment, with monthly such average approvals at app...

JP Morgan gets attention from call buyers

Finance
[unable to retrieve full-text content]Traders are making a bet Friday on JP Morgan JPM So far 5 577 contracts of the July 114 call have changed hands against open interest of 119 contracts Today s volume moved high in the bid ask spread indicating these new calls were initiated from the buy side InvestorsKeyhole Trade Latest Articles in
Budget 2018 may roll out tax sops for home buyers

Budget 2018 may roll out tax sops for home buyers

Finance
The government may use Budget 2018 to make owning a house slightly more affordable and even rekindle the interest of home buyers. These measures could be in the form of tax sops for home owners and those looking to buy property. Tax benefits help in bringing down the effective interest burden in properties that are financed through a home loan. Here are few things that Budget 2018 could do to help taxpayers own a home and save tax simultaneously. Principal repayment enhancement In Budget 2018, the tax benefit on the principal amount repaid on a home loan for a self-occupied property may get an additional benefit of Rs 50,000 or more within the section 80C limit. While existing home loan takers can use the prepayment feature to benefit from it, new borrowers get an add...
Rising home prices and stagnant wages have home buyers in a pickle

Rising home prices and stagnant wages have home buyers in a pickle

Finance
Home ownership remains elusive for many Americans a decade after the collapse of the real estate market sent the U.S. economy into a tailspin. More than one-third of Americans ages 18 to 34 said they are likely to opt out of home ownership over the next decade, according to an annual survey conducted by the U.K.-based consumer credit reporting agency Experian. About a quarter of Americans of any age also said they were likely to opt out of home ownership in that period. The number of Americans who said they are likely to opt out of homeownership increased 8 percentage points in this year's survey, compared to 2016. More from Smart Investing:Bitcoin too risky for "serious" investing, say advisorsMillennials lack confidence to invest: Bank executiveWhat investors should do before market gets...
Supreme Court orders Unitech to pay litigation cost to home buyers

Supreme Court orders Unitech to pay litigation cost to home buyers

Finance
NEW DELHI: In a first of its kind order, the Supreme Court on Wednesday directed Unitech to pay litigation cost to home buyers who have succeeded before the grievance redressal commission in their lawsuit against the real estate major.A bench of Chief Justice Dipak Misra, Justice A.M. Khanwilkar and Justice D.Y. Chandrachud directed the real estate major to pay Rs 80,000 each as litigation cost to 39 flat buyers in one of the developer's projects.The court directed Unitech to pay the amount of the litigation costs within four weeks to buyers who have succeeded before the National Consumer Disputes Redressal Commission (NCDRC) in getting their principal amount and interest.Let's block ads! (Why?) Personal Finance News-Wealth-The Economic Times