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Other Amit Enterprises Projects in Pune approved for Home Loan
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State Bank of India has entered into an agreement with Confederation of Real Estate Developers’ Association of India (CREDAI) to collaborate and work towards the development of the real estate sector, specifically aimed at developing affordable housing and greenhousing projects. This initiative will help millions of home buyers fulfill their dream of owning a home. SBI, the largest mortgage lender, will give CREDAI member developers an interest concession up to 35bps for construction finance for eligible affordable housing projects.
Indiabulls Housing Finance has reported a 24 per cent increase in net profit for the March quarter.Net profit for the fourth quarter of this fiscal year stood at Rs. 841 crore as against from Rs. 676 crore a year ago. Vice chairman, Gagan Banga, Indiabulls, stated that the company has observed a good growth in the geographies of Bombay, Pune, Bangalore and Hyderabad in its home loan portfolio.
The government is planning to implement a policy plan to reduce shortage of housing in the urban areas by encouraging renting of vacant homes lying across the country. M. Venkaiah Naidu, minister of urban development, housing and poverty alleviation said that the draft for national urban rental housing policy is ready and it will go the union cabinet soon for its approval.
Supertech, Delhi based Real estate developer plans to invest Rs. 2,500 crore to deliver 15,000 low cost homes in the current Financial Year. The company further added that they have already delivered 8,500 units in the last financial year and are committed to deliver another 15,000 units this fiscal year.
Indiabulls housing finance said that it has raised Rs. 43 crore through an issue of non-convertible debentures (NCDs) as a part of its plans to raise Rs. 6,000 crore from the market. They also informed that this is the sixteenth tranche of NCDs of having a face value of Rs 10 lakh each.
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