My dear friends, Please do not break your head. Everything depends on the Government policy. Instead of we break our head let our Government thik over it.
RE:House Loan Interest Rate
by chandraprakash suryawanshi on Apr 09, 2007 12:00 PM Permalink
why people were not complaining when the rates were going down, they were all happy. It is market and the inflationary pressures which is driving interest rates up to reduce liquidity. It's true that private banks rise interest rates faster and charge for preponing loans while most public sector banks does not. ICICI bank specially needs to be blamed as there portfolio is maximum for home loans and share bigger responsibility. They hike the rates fast, as once you borrowed, you cannot prepay without hefty prepose charges and for attracting new customers, they will still give some discounts and once they also take loans, in some 3 months they will see the rate hike too as they are also trapped
RE:House Loan Interest Rate
by Sunil kumar on Apr 09, 2007 12:31 PM Permalink
I think this is wat going to happen , Prices are going to come down atleast by 20% within a year and as purchasing price of people cannot cope with high EMI and also you can only make 0.2-0.25% of your flat cost as rent per month (assuming flat is 40L and u get 10K rent) this is if you wish to live in a rented space and giev your flat for rent to make up for EMI . It is actually abest time to sell and get a better flat at a little lesser cost 2 yrs from now
RE:House Loan Interest Rate
by anil b on Apr 09, 2007 02:00 PM Permalink
HI ,
40 lakhs and getting a return of 1.2 lacs per annum .the return works out to be some 3 to 4 percent range per annum .why cant people evaluate on the basis of returns . if they had done that probably they could have avoided their troubles .in india people go crazy about real estate and the hype by the media .god help them ??????
