#RealtyNewsRoundup: Realty Regulator To Hit Housing Finance Companies, Says RBI Report [Video]

Realty News Roundup is PropGuide's selection of the day's top stories from the real estate sector.

The Reserve Bank of India in its Financial Stability Report said the curbing of speculative activities in the realty sector after the establishment of a regulator is expected to adversely impact the housing finance companies. The central bank, however, was quick to add that there are no concerns around "systemic risk" from this sector, despite a slight increase in the stressed advances in the retail housing sector in the recent quarters.

Urban infrastructure spending will be increasing in the next five months and the government will be announcing a lot of welfare measures for poverty alleviation and urban development. This was stated by Union Minister of Urban Development, Housing and Urban Poverty Alleviation and Information & Broadcasting Venkaiah Naidu recently. Talking about notes ban, he said demonetisation a bitter pill and people must swallow it for long-term gain.

Nudged by the government, banks are likely to slash interest rates in the next few days to lift the spirits of borrowers following demonetisation. Sources said the reduction in lending rates could be accompanied by a steeper cut in deposit rates. The central bank has already given borrowers another 30 days over and above 60-day window for repayment of housing, car, farm and other loans worth up to Rs 1 crore.

Actor Arjun Kapoor has been issued a notice by the Brihanmumbai Municipal Corporation and told to demolish a terrace gym in Juhu. The civic body claims that the actor had encroached on the terrace by constructing a 30-by-16 sq ft brick room without permission. Kapoor lives on the 7th floor of Raheja Orchid in Juhu.

Source: media reports