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Affordability to buy home to rise to a 3-year high in 2024: Report

Kolkata, Pune and Hyderabad to be most affordable in 2023 and 2024, according to a report titled JLL Home Purchase Affordability Index

The affordability for home purchases is expected to improve for the better in 2024, basis the expectation of a 60-80 bps repo rate cut during the year, says JLL’s report on the Home Purchase Affordability Index (HPAI).(Pexels)
Updated on Dec 11, 2023 07:07 AM IST

They were assured houses in Dussehra, now hope for Diwali luck

Thousands of former mill workers in Mumbai are still waiting for the houses they were promised in 2016. Delays in paperwork, changes in government, and the repurposing of ready homes as quarantine centers due to COVID-19 have all contributed to the delay. The houses, which were supposed to be handed over on Dussehra, are now expected to be completed by November. However, many workers are skeptical and concerned about the prolonged wait and the deteriorated condition of the houses. MHADA, the housing authority, still needs to find land to build houses for the remaining beneficiaries.

Maruti Jadhav, who worked in Khatau Mill, Borivali, said, “We were promised houses on Dussehra, which is today. Are we going to get it by next Diwali now? My family pooled in <span class='webrupee'>₹</span>6 lakh for the house. And now, as a pensioner who gets around <span class='webrupee'>₹</span>1,000 a month, I have to do odd jobs to put food on the table.”
Updated on Oct 25, 2023 07:42 AM IST
BySabah Virani

First-time house buyers, here’s how to get your house in order

Don’t fall for those slick ads and cool EMI schemes. A broker, therapist, financial advisor and lawyer list what to do before buying your first home

Check government housing schemes to see if you’re eligible for any reprieve, like they did in (below) Zara Hatke Zara Bachke (2023). Just don’t try to outsmart the system.
Updated on Aug 10, 2023 08:15 PM IST
ByUrvee Modwel

Real estate sector hails RBI repo rate pause

The Reserve Bank of India’s decision to keep repo rate unchanged is likely to lead to stable home loan interest rates and continue the uptick in housing demand, say real estate sector leaders. This is the second consecutive time that the central bank has kept the lending rate unchanged.

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Updated on Jun 12, 2023 06:04 PM IST

VJTI teacher cheated of 15L on pretext of selling house

Real estate agents and a couple have been booked for allegedly cheating a VJTI teacher on the pretext of selling a house and refusing to return a token amount of ?15 lakh.

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Updated on May 12, 2023 12:51 AM IST
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