Affordable Housing Scheme For Government Employees Soon: Bansal

Complimenting the Chandigarh Housing Board (CHB) for a good job done in rehabilitation scheme, he sought an affordable housing scheme for government employees and for all residents of Chandigarh. He was speaking at the function where Prime Minister Manmohan Singh handed over keys to newly-constructed one-room flats to beneficiaries at Dhanas under the city’s slum rehabilitation scheme. Complimenting the Chandigarh administration for constructing the flats, he said the rehabilitation scheme will help make Chandigarh slum-free. Bansal also highlighted the decisive policies of the UPA government at the Centre, lauding the Congress-led government for its recent landmark decisions like the Right to Education, Food Security Bill, Land Acquisition Bill and the Street Vendors Bill, which he said were the measures in the right direction and would go a long way for inclusive growth of the country. Built under the Jawaharlal Nehru National Urban Renewable Mission (JNNURM) by the Chandigarh Housing Board, the flats will accommodate over 40,000 people.
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NPAs non-existent; see 18-20% retail growth: Dewan Housing

Below is the verbatim transcript of Kapil Wadhawan’s interview on CNBC-TV18 Q: You have increased your retail prime lending rates, can you take us through how exactly the cost of funds is panning out for the company at this point and what is possibly net interest margins (NIMs) looking like as well? A: Clearly on the back of the tightening of liquidity within the system, the banks are not being too proactive in coming out and lending, even though we as a housing finance company being in this sector for nearly three decades have not felt too much of a pinch on liquidity but clearly the cost of funds has been moving up in tandem with all the other macroeconomic factors that we are seeing around us. Surely, some silver lining now on the clouds with the rupee having staged a recovery. It was on the back of that and the slight increase in the cost of funds that we thought it is prudent to increase the interest rates for both our existing as well as our new customers.
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Housing Market: 5 Years Later

housing market, new home sales, for sale sign, home buyer, seller, agent, real estate

The loans that got us in the most trouble arent very common today, says Kolk. You dont really see loans longer than 30 years or interest-only loans. Where We Go From Here Housing experts and financial institutions are keeping a close watch on looming legislation regarding lending practices that will set the tone for future market activity. Legislators are in the process of debating the financial risks for different types of mortgages and how they can protect consumers without getting too involved in the normal activity of the housing market, says Kolko. In January, the Consumer Financial Protection Bureau issued regulations detailing how lenders must ensure consumers go!! can afford any loans by verifying their income, employment, and total debt — which cannot exceed 43% of income. The future of government-sponsored enterprises like Fannie Mae and Freddie Mac remain murky.
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