Icici bank will go bankrupt .. it has given huge loans to IT pro who r losing jobs and not getting pay hikes. all carloans, home loans will be in defaults.
Why not banks are commanding prices on which they are valuating a property. Definitely this will save a buyer from the hassle of buying over priced property.
I suggest not to approch ICICI bank for home loan as I am also a victim of this bank. Most of Banks has reduced rate of interest on home loan but this bank is earling profit at higer rate from the customer.
When rate increase we know this is the first bank to take decision to increase for their profits. I had transfer my home loan account from ICICI to HDFC.
RE:ICIC BANK DON'T APPROACH TO THIS
by ravindra gupta on Apr 07, 2008 10:23 AM Permalink
Your example is a solution for me. I too am a victim of ICICI and shall follow the same path. Request all home loan borrowers to follow the same.
RE:ICIC BANK DON'T APPROACH TO THIS
by sethu madhavan on Apr 07, 2008 10:35 AM Permalink
I also got my loan transferred from ICICI Bank to SBI whose SBI Loan Utsav is still going on for those who are interested to transfer their exorbitant home loans. I foreclosed the ICICI H/L on 1st Jan 08 which had 12% interest and SBI took over the same at 10%. Subsequently, SBI still lowered their rates by 0.25% twice in Feb. 08, and my interest rate is now 9.5%. People like me approach Pvt Banks only because of their fast processing and liberal loan sanction norms, but after that, they do cut-throat business.
this govt wants common people to invest their surplus money into market not in real state. but, market is getting down every days, the market is controlled by handful of people, who are getting support from corrupt govt officials and political leaders. no need to say these are congress leaders. who will take responsibility of the our hard earned money, these stupi** only knows, how to suck blood of common people.
If banks give the loan according to guidelines values specified the government, then only real estate values will come down. Builders/sellers are asking exceptionally high.
RE:Real Estate
by pushparaj M on Apr 07, 2008 10:18 AM Permalink
There is no govt body who will have control over the real estate prices and even govt is not willing to do that bcos these builders are their main source of finance durng their election period.
In present situation the people should not book the flat or property. Builder lobby is very strong not ready to show that the property rates has come down but they slightly increase the rate so that in hurry people will book the property. So be careful definitely within 4/5 months property rates will come down.
RE:Congress government fit for nothing
by ajay sharma on Apr 07, 2008 10:30 AM Permalink
Well written Venky Babu,
These good for nothing bas....s should kicked out from the office. They have really made a hell of a life for everyone. One all powerful lady with a weak pm & all jokers trying to outsmart each other are wreaking havoc with the lives of "common man".Sooner they are shown the door the better for the country. the previous govt. was atleast responsive to the problems of the counntrymen.It managed the economy magnificently with growth as well as low inflation. Let us all pledge to vote BJP to power with clear majority.
