Home loans to get cheaper

Home loans for affordable housing to get cheaper as SBI, HDFC, ICICI Bank and Axis Bank slash rates. Axis Bank on Thursday announced 30 basis points (bps) reduction in its home loan interest rates to promote affordable housing finance. The revised rates will be available with effect from May 16.

Private sector lender ICICI Bank on May 15 reduced its interest rates by up to 30 bps for home loans of up to Rs 30 lakh. HDFC reduced its rates for women borrowers to 8.35 per cent and others to 8.40 per cent for home loans of up to Rs 30 lakh.

State Bank of India (SBI) had announced a reduction in the home loan rates by 25 bps from 8.60 per cent to 8.35 per cent per annum. SBI, was the first to reduce interest rates on home loans earlier this month, followed by ICICI and HDFC.


NGT gives Green Signal to NHAI for Delhi-Meerut Expressway

Delhi: To ease the traffic between Delhi and Meerut (NH-58), NHAI proposed Delhi-Meerut Expressway which starts from National Highway-2 at Ring Road in Delhi and ends at Meerut in Uttar Pradesh. The National Green Tribunal (NGT) granted permission to NHAI to build a bridge and approach roads over the Yamuna river for the project. The Delhi-Meerut Expressway will be built through public- private-partnership mode and slated to be operational by March 2018.

The green panel cleared the decks for the project after taking into account the recommendation of Principal Committee, constituted by the NGT for Yamuna Revitalisation which said that “project may be allowed” subject to fulfilling of certain conditions including increasing the cost of monitoring during construction phase of bridge by nearly Rs 2.5 crore. NGT granted permission to carrying out necessary construction for expansion of existing Nizamuddin bridge, Ring road in terms of the proposed project.

News Source: NGT clears decks for Delhi-Meerut Expressway | financialexpress.com

Agra-Lucknow Expressway is all set to open on December

expresswayThe much awaited Agra-Lucknow Expressway is all set to open to the public on December 23, 2016. It has been built in a record time and inaugurated last week amidst much fanfare. The 302 km six-lane expressway passes through 4 National Highways, 2 state highways and has an 8-lane bridge across the river Ganga. It connects Agra and Lucknow and expected to reduce the commuting time between Delhi and Lucknow to anywhere between 5 to 6 hours.

The expressway is designed to support speeds up to 120Km per hour. But, the maximum speed allowed is 100 km per hour. The expressway will have automatic traffic management systems and ambulances would be stationed on the expressway. This expressway will connect Kanpur-Unnao, Yamuna Expressway via Agra Ring Road and 236 villages. The expressway is spread across 3500 hectares of land.

News Source: Agra-Lucknow Expressway: Now, drive from Agra to Lucknow in just 3.5 hours from December 23 | Financial Express

Nimma Mane 2014 Bangalore property exhibition

Nimma Mane 20145th edition of the mega property exhibition “Nimma Mane 2014” will be held at Koramangala Indoor Stadium, Bangalore between December 12th and 14th. Previous edition was held in January 2014 at RBANMS grounds, near commercial street. 70+ Builders & 300+ Projects To Be Showcased.

CommonFloor is the community partner for Nimma Mane 2014

Nimma Mane 2014

  • Spot Loans Sanctions From Lic HFL
  • Special Offers On Processing Fees
  • Attractive/Surprise Gifts
  • Extensive Car Parking
  • Kids Play Zone
  • Senior Citizens Waiting Area

LIC Housing Finance Ltd. Is one of the largest housing finance company in India. Incorporated on 19th June, 1989 under the companies act, 1956, the company was promoted by LIC of India and went public in the year 1994.


Pic Courtesy: CommonFloor FB 


Mobile app for the Property Search and apartment management

CommonFloor.com, India’s leading online real estate portal, has released mobile apps -one for real estate property search and another for “CommonFloor Group” to connect residents (living in the same community) each other.

CommonFloor Groups is India’s largest apartment management tool with over one lakh gated communities and ten lakh residents using it across the country. The ERP level tool offered by CommonFloor is a free of cost solution.

CommonFloor Groups App

CommonFloor Groups (formerly CommonFloor Communities) is a private platform for all the residential complexes that helps them in bringing all the residents together to build a happy, close-knit and well-managed community. This beta App allows residents a faster access to their residential complex Group.

CommonFloor Property Search App

CommonFloor Property Search app helps you to search real estate projects and properties on the go. Search, Buy, Rent and Sell Properties in India – apartments, flats, houses, housing, villas, residential projects, shortlist preferred properties, view property and project details, contact owners, builders, brokers, post property requirements, post property ads and much more like map search, augmented reality to view properties around your nearby location.


About CommonFloor

CommonFloor.com, a product of maxHeap technologies Pvt Ltd, is a leading online real estate portal dedicated to apartments and gated communities. It is also the first to host an online community management platform that extends its role way beyond real estate buying and selling or renting of properties in India.

CommonFloor.com, founded by Sumit Jain, Lalit Mangal and Vikas Malpani started in December 2007. Lalit and Sumit were batchmates at IIT Roorkee and then went on to work at Oracle for a year, before quitting their jobs in mid-2007. Vikas is a computer engineer from Bangalore and worked at SAP Labs before starting work on CommonFloor.com.

CommonFloor head office located in Bangalore and branch offices at Chennai, Hyderabad, Kochi, Gurgaon, Noida, Mumbai, Pune, Kolkata and Ahmedabad.

Source: yourstory.com | thehindubusinessline.com | CommonFloor.com

22 percent rise in home sales in top six cities: Liases Foras

Home sales in IndiaAccording to property research firm Liases Foras, home sales bounced back in the December quarter.Property prices, however, grew an average 1 percent quarter-on-quarter in the top six cities, continuing a trend of marginal growth that has been on for six quarters now.

When new launches saw a 14 percent decline in the quarter and economic slowdown along with the uncertainty due to the upcoming elections pushed sales down, Developers offered discounts—waiver of stamp duty and registration fees, broker or agent’s bills, foreign trip, car, freebies like air conditioners, furnishings and modular kitchens— worth lakhs of rupee.

Image Courtesy:economictimes

Image Courtesy:economictimes

Bangalore posted the biggest gain with home sales growing 58 percent over a year ago between October and December. The National Capital Region (NCR) registered the smallest gain of 4 percent among the top six cities. Home sales in Pune rose 48 percent while those in Mumbai Metropolitan Region (MMR) were up 26 percent.

Source: The Economic Times

CBRE-Connaught Place in Delhi slips to seventh in costliest office destination

connaughtplace_map_picOn a year-over-year basis, the rate of growth in prime office occupancy costs slowed, up a modest 1.4% globally in Q1 2013, compared with 2.1% in Q3 2012. The slowdown was a result of slower global economic growth as well as significant expense management and cost control, footprint consolidation, and more efficient workplace design by occupiers.

According to CBRE Prime Office Occupancy Costs survey, Connaught Place in Delhi,which was 5th costliest office destination in Q3 2012 has slipped two notches but continued to feature in the top 10 most expensive office destination in the world.

Economic Times