After going through the article one in not able to understand what the writer intend to convey.The article is incomplete & without any basis or calculations.One gets carried away by the article headline,but its content is zero & useless.Wastage of time to go through it.
Can someone explain me how.. "at current rates Sameer would finally end up paying nearly Rs 1 crore (Rs 10 million) for the house he bought for Rs 55 lakh (Rs 5.5 million)" How would the interest rate likely to move up in the years to come.
Most of these articles are published post-effect, that is, when someone has exercised an option, when a change has come, in this case way back since Jan. In the first place why [name changed] took a floating option as late as Jan when rates were bound to hike? An important piece of advice would be to suggest that it is indeed beneficial to take a floating rate loan now, at least for mid term considering what holds in the future, while a fixed rate was beneficial about two years back till early this calender year, every other advisor was suggesting a floating option which led to EMI problems many salaried people have landed in. In fact, as things stand today, a fixed or a floating option for a three year loan would cost almost same at about 10.5-11 percent interest rate. Since in coming 1-2 years the rates may go upto 12-13 percent, it will still be better to avail a floating option as a very high hike will adversely effect the economy and if markets slow down, the rates might as well get controlled. Either ways, that will be a safer option.
More story than content - is what I would say. A big story to start with; and no explanation for the conclusion other than a single line comment. If the conclusion were supported by some data, it would have made the article worthwhile. Can you explain what is the actual purpose of this article - is it to give guidance to readers or to catch the eyes of the readers?
Really it has appeared as a burden more than a Home of own. Lots of hope the then for interest on loan is all about in vain.After 3 years of paying full installment regularly i still have the same tennure to repay my loan . Escalation of my property value is less than this. Now i feel if this remains and Government does not think about this then i will throughout my life and after that my child will pay the installment.
