#RealtyNewsRoundup: Home Loans To Go Cheaper As RBI Reduces Repo Rate

The Reserve Bank of India (RBI) on February 7 slashed benchmark interest rate by 0.25 per cent to 6.25 per cent on expectation of inflation staying within its target range, a move that may translate into lower monthly installments for home and other loans. The central bank also changed its monetary policy stance to 'neutral' from the earlier 'calibrated tightening', signalling further softening on its approach towards interest rates.

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Andhra Pradesh new capital Amravati has left behind cities such as Chicago, Ljubljana and Pune to top the list of finalists in the Wellbeing City Award competition. The global award recognises cities that have based their urban planning on well-being. 

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Prime Minister Narendra Modi is likely to inaugurate the last 10-km stretch of the existing Chennai Metro network on February 10. The opening of the stretch from AG-DMS to Washermanpet will make the entire network 45-km long. Meanwhile, the 9.4 km-long Dilshad Garden-New Bus Adda section of the Delhi Metro's Red Line has received an approval from the Commissioner for Metro Rail Safety (CMRS), paving way for its opening. This section will be an extension of the 25.09-km the Rithala-Dilshad Garden corridor or the Red Line.

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Homebuyers, who have invested in various projects of embattled realtor Unitech have moved a motion in the Supreme Court, demanding the Centre takes over stuck company projects. The company has not been able to deliver homes to as many as 14,600 buyers from whom it has taken advance money to the tune of Rs 6,700 crore.

Source: Media reports