#RealtyNewsRoundUp: Home Loans Taken Prior To April 2016 May Become Cheaper

Old home loans are likely to become cheaper with the Reserve Bank of India asking banks to link from April 1 the base rate with the marginal cost of funds-based lending rates (MCLR). The MCLR, which is more sensitive to policy rate signals, was introduced by the RBI in April 2016 on account of limitations in the base rate regime.

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The Centre has given its approval for the construction of over 1.86 lakh more affordable houses for the urban poor under its urban housing scheme, taking the total number of houses to over 39.25 lakh. The latest approvals under the Pradhan Mantri Awas Yojana-Urban (PMAY-U) entailed an investment of Rs 11,169 crore, with Central assistance of Rs 2,797 crore.

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Pune-based developer D S Kulkarni, who is facing charges of cheating depositors, has appealed to people to help his company, DSK Group, through crowd-funding. On February 8, Kulkarni said there were a large number of well-wishers who wanted the group to come out of the present crisis. "That is why we have decided to go back to people and seek help in the form of crowdfunding," he said. The group had sound assets, but, was facing issues of working capital, he said.

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The New Delhi Municipal Council (NDMC) on February 8 sealed a portion of the posh Gymkhana Club in Lutyens' Delhi, terming it unauthorised construction. Tightening its noose over unauthorised constructions, the civic body has since last month sealed several buildings that had not received clearances from the fire department or had not paid user-conversion charges dues.

Source: Media reports