Showing posts with label 2019. Show all posts
Showing posts with label 2019. Show all posts

Monday, May 25, 2020

RBI extends EMI moratorium - latest update

As India struggles to get back on its feet in the rest of the world, the Reserve Bank of India is exploring ways to make the life of the common man less stressful.

The first EMI moratorium was announced on 27 March 2020 and was to cover debt repayment between March 1 and May 31. As the COVID-19 pandemic still continues, it was clear that postponement expansion was needed. That is why today (22 May 2020), RBI Governor Shaktikanta Das extended the moratorium on loan repayment saying - “In view of the expansion and continued disruption of lockdown due to COVID-19, the decision to allow lending institutions has been taken. From June 1 to August 31, 2020, another three months to extend the moratorium on term loan installments.

How does an extended EMI moratorium help?


About 122 million people lost their jobs due to the outbreak of COVID-19. To add to this, self-employed individuals are struggling to make ends meet due to loss of income during the epidemic. If you are wondering, about 51% of India's workforce is self-employed! This means that a large part of India's working population is now finding it difficult to manage its expenses and pay back its debts.

The additional 3-month extension would provide some much-needed relief to these individuals. They will now be able to take out their loans such as car loans, home loans etc. If they miss an EMI payment then they run the risk of negatively affecting their credit score.

Now that the loan is deferred for 3 months, and money is not deducted from their bank accounts, most people will have little money to watch them until things start appearing.

Important points to keep in mind about EMI moratorium


Although the RBI EMI moratorium is good news for many people, what should you know here-

· The EMI moratorium is not a mandate, it is a competent provision. Banks have the right to decide whether they want to follow it or not. Individual banks will also be allowed to decide whether this moratorium will be extended to all borrowers.

· If you have decided to avail the moratorium, the EMI will be extended with interest applicable to your outstanding principal amount during the unpaid time. This will increase your overall interest cost. If you have the money to manage your loan EMI, it is best to stick to the original repayment schedule, especially if you have a notable outstanding loan amount for a loan against a home loan or property.

· The moratorium prevents payments for principal and / or interest components; Bullet repayment; Equal Monthly Installments (EMIs) and credit card dues.

Repo rate reduction


Apart from announcing the moratorium, RBI also announced a drastic reduction of 40 basis points in the repo rate to 4%. The reverse repo rate has also been reduced by 40 basis points to 3.35%.

Repo rate is the interest rate that RBI charges for the funds to be given to banks. This drastic reduction in repo rates will also reduce the lending rates to banks. Lower lending rates will give people hope to think about reinvesting. It is also said that EMI will come down on home, auto, personal and term loan rates in the near future.

Thursday, May 7, 2020

Real estate welcomes lockdown extension, How to measure for liquidity crisis to seek loss


The health and safety of the nation is the focal point at this time. The real estate industry welcomed the Centre's decision to extend the lockdown period until 3 May. But as a body, it is also quick to provide a relief package to the government to alleviate the liquidity crisis faced by the builders and also allow limited construction activities with appropriate. 


“We support the Prime Minister's announcement on the extension of the lockdown. We are waiting for the roadmap to be presented by the government on April 20 and will also urge the government to allow limited construction activity as it will help the real estate sector to bring its economic movement in a formidable shape, "CREDAI.


It is anticipated that this will adversely affect an economy already under severe stress. Industry giants are looking for some measures that will keep businesses such as outright restructuring of bank loans from developers to deal with this liquidity crisis.


However, the cumulative approach of all veterans is that economic activities should start slowly including resuming construction activity at project sites.

Saturday, April 18, 2020

How to deal with the Symptoms of corona virus infection (COVID-19)


The current outbreak of the new 2019 Novel Corona virus (2019 n-Cov) has caught many major countries around the world. China, its country of origin, South Korea, Italy and Iran are some of the heavily affected areas.

Panic spread in India after 15 Italian tourists and their Indian driver were infected. You can find the current affairs number on the Government of India website. The government is taking preventive measures like universal screening of passengers at airports to keep the spread under control. Several laboratories are expected to open for testing and research on n-Cov.

Amidst all this, many health care experts are releasing updates to keep the public informed and prepared. Corona virus information is floating everywhere, and it is up to people to read and take precautionary measures to protect themselves from the virus.
In this blog, we take a deep dive to learn about COVID-19, corrected by its symptoms, how it is transmitted, and not to do some hard work to prevent.

Are you infected with corona virus?


The 2019 n-COV belongs to a large family of corona viruses, which cause serious illnesses ranging from the common cold to the Middle East Respiratory Syndrome (MERS-Cov) and Severe Acute Respiratory Syndrome (SARS-Cov). And the worst thing about this new virus is that it has no specific symptoms.

Mild health problems - such as cough, sneezing, fever, and difficulty breathing are some symptoms of infection. In some cases however, there may be no symptoms. An infected virus can be a carrier, infecting many others in the process, without itself being infected.  Alternatively, infected pneumonia can develop severe cases such as severe acute respiratory syndrome, kidney failure, even death.

So if you are dealing with a cough and a cold this season, the only way to know if you are infected with corona virus is to consult a health care professional. As of now, there is no standard, direct test for the 2019 N-Cove. But, the virus can be detected by running a series of tests.


How is COVID-19 Transmitted?


Researchers have not yet been able to uncover the exact dynamics of virus transmission. However, there are some channels through which this happens
  • Through drops made after an infected person coughs or sneezes.
  • Consumption of animal products virus.
  • Contact infected animal/
  • Through public places, especially during public transport, meetings, gatherings etc.


What you have to Do and Don’t to protect yourself from 2019 n-Cov?


Here are some ways to protect yourself from an epidemic:

Maintain cleanliness

Wash your hands thoroughly with soap and water. Scrub carefully between fingers and nails. Use hand washes, sanitizers and alcohol sterilizers to clean your hands and do not touch your nose or mouth otherwise.

Keep a safe distance from sick people

Avoid direct physical contact with sick people, especially those with flu, cold, cough or respiratory problems.

Cover your mouth

When you cough or sneeze, cover your mouth with a mask, cloth or tissue paper. Also, if you are ill, use a medical mask. To sterilize the mask or cloth, heat it.

Heat your food well

Consumption of infected animal products can cause virus infection. The virus cannot survive at high temperatures. Thus, you should heat your food properly before consuming it.

Seek medical care

There is always initial medical care from the health care profession, even in cases of common, mild symptoms such as cough, sneezing, fever, or difficulty breathing. Self preventive care is helpful in these cases.


A list of things you should avoid:


Touching your face

The virus enters our body through the nose and mouth. If you have touched an infected area, especially in public places, your hands may be infected. Thus, avoid touching your face before washing them properly.

Direct contact with animals

Avoid unnecessary, direct contact with animals. The virus can be transmitted from animals to humans. Therefore, if you have pets, you need to take care of hygiene properly.

Do not travel when you are sick

Make sure you are healthy before the trip. If you are not, seek medical attention immediately. Avoid going to public places, buses and sharing taxis when fever, cough, sneezing.

Do not take medicines without a prescription

Eating common antibiotics does not help with 2019 n-Cov infection. If you are feeling unwell, you should only take medicines prescribed by a health care professional.

As always, prevention is better than cure. And keeping the above suggestions in mind, you and those close to you can protect against corona virus infection. Stay healthy, and take care!

STAY HOME, STAY SAFE, STAY ALIVE

Saturday, April 11, 2020

Corona virus outbreak 2020 - affects real estate growth in India?


Today, at the endemic of this severe corona virus, experts are busy calculating abnormal human loss worldwide. People are suffering or out of home due to the outbreak of this virus. In the meantime, the effect of the unexpected opposition to this deadly virus spreading on the global economy has been agreed.

Considering COVID - 19, the estimated loss to GDP in the world so far has been assumed to be 0.2 percent. For the grace of God, the effect is by no means limited in India. But in this scenario, it is clear that the Indian economy, which has already seen a 4.5% lower growth in the July - September quarter, will probably not remain uninhabitable due to the worldwide economic slowdown. And, the realty industry of the Indian residential market is telling a different story altogether.

COVID - 19 affects the property market in India


If the data collected from SuGanta.com is analyzed together, it is clearly visible the fall of 9 important residential markets of India by 30 percent during the time span of October to December last year. It is deteriorating for the fifth consecutive time of Q3 financial year 2019.

The trend is also the same for the launch of new projects. Since the third quarter of the last financial year, the task of starting new projects has been facing a continuous decline in the mega markets. This caused an annual decline of 44% in the October to December time period.

Despite all the government-issued schemes, including the lowest interest rate on home loans and the maximum tax exemption on purchasing any residential property in India for the first time in the history of real estate, all efforts failed to revive property demands among homebuyers are in India. He still chose to remain unaffected by all the tricks played by the stakeholders to force him to go out of his fence. For example, the government took an action to limit GST to 1% for affordable flats, which also went into the vein.

Usually, the craze of buying and selling property in India increases during the festivals of October to December, which did not happen even in 2019. And now in early 2020, there has been an outbreak of the corona virus. And, it has also probably brought the worst times in the residential property market in India. 1705732 Corona positive cases reported globally as of April 10, 2020. And, it is only growing and causing more fear around the world.

The rate of property visits has fallen surprisingly


Well, impressed by the government's plans, given how interested some consumers were in searching for property on the Internet, the Corona virus outbreak just seized them again from doing any such thing. To date, on April 10, 2020, India has reported 7600 corona positive cases. The activation of social media and news channels has succeeded in making people truly aware of COVID - 19 and everyone tries 'Stay Home Stay Safe'. People are really creating social distance by listening to the words of PM Modi. Currently, India is on a 21-day long social lockout to stop the spread of pollution. So, in such a scenario, nobody is dreaming for a site coming to buy a property in India.

Plans for project delays !!


Indian real estate is largely dependent on China, which is the source for COVID - 19 outbreaks. India needs support in matters of sourcing home furnishing essentials, construction materials, plastic to steel to electronic materials and construction equipment from China. Now, India needs to look for alternative sources as China is busy controlling the epidemic of viruses. It will shoot project delays to make sure.

Thursday, December 12, 2019

Real estate market in Gurgaon

2018 did not live by the expectations, for the real estate industry, and the market was on a slowdown from the starting of the year due to the execution of game changing policies by the government.

2020 Gurgaon is shining better than expectations, with multiple factors enhancing Gurgaon real estate development on several fronts. 


The real estate trends expected for Gurgaon in 2020:-


Economy: India’s economic growth is balanced to create more job opportunities and Gurgaon is a hub of every major business. This will lead to the establishment of jobs and more people moving to the city will lead to housing demand. There will be both, the end-users buying homes as well as the investors buying properties to generate rental income from.

GST: GST is now working absolutely smoothly and there are talks of bringing the entire real estate segment under it. The execution and reformation of GST are not just advantageous for the businesses, but also for the buyers.

Affordable Housing: he government’s initiative towards affordable housing has started creating results and more and more developers have started building projects to provide to the residents.

New launches:  Things are finally heading in the right direction and various developers are launching many new projects.  This includes both in the luxury segment as well as in the affordable.Investors are believed to be back in the market to create submissive income through rentals as there is a lot of workforces in the city, who needs housing, but does not want or cannot afford to buy one.

RERA act (Real Estate Regulatory Authority): It was introduced in 2016 to protect the interests of the home buyers. The main objective of RERA is to provide relief to buyers from malicious builders. In which the area of land proposed to be developed does not exceeds 500 sq meters or the number of apartments proposed to be developed does not exceed 8.

Infrastructure: Gurgaon is now well connected with surrounding area like Delhi, Faridabad and Sohna and major roads like NH-8, Dwarka Expressway, Southern Peripheral Road, Golf Course Extension Road, shall provide an improvement to connectivity.

There is also lots of growth expansion happening in terms of civil infrastructure as well as private one in terms of schools, hospitals, commercial space etc. It surely looks like Gurgaon offers excellent returns on investment for investors and an attractive lifestyle for end-users. For those planning to invest in 2020, Gurgaon is definitely a sure shot destination to grow your  


 SuGanta Realty Services llp