Interesting Interest Rates

State Bank of India (SBI), the country’s largest money lender welcomed the new year by slashing the marginal cost of funds based lending (MCLR) by a whopping 0.96% for one year. MCLR is the benchmark rate to which all home loans are linked. These rates have been cheapest for the past six years; this was further welcomed by other banks slashing their MCLR rates too.

The reduction in the MCLR rates simply means that the home loans would now be available at a cheaper rate since most of the home loans are locked in at a one-year MCLR. The older loans can avail this benefit post one-year completion of their MCLR period.

This move has ignited the spark in the real estate sector, which has seen a steady rise in demand from fresh buyers. The industry witnessed massive struggle to cope up the with the unaffordable prices which were a directly proportional to the poor demand from the consumer’s end. With the slashed interest rates the market looks up.

Demand for both realty and office properties are bound to witness a steady rise as the demand is going to drive two-fold. The housing sector is expected to see more traction as the central bank has reduced the risk weight on the housing segment, which means lenders would have to keep aside a lesser capital at the time of borrowing.

The reduced interest has simplified the finance process associated with lending for borrowers, which leaves the borrowers on a high note. New borrowers will also see an increase in the eligibility with a 50-basis point drop in home loans. The reduced rates will also result in lowering of equated-monthly installments.

Overall the slashed in interest rates would garner a lot more demand in the housing sector as the interest rates transcend into an interested rate for the consumer.

For more information on investing in Bangalore’s booming Outer Ring Road, visit us at our Experience Centre in Doddenakundi or click on www.durgapetals.in

Outer Ring Road: – A true buyers’ choice

durgapetals  in marathahalli

The northern part of Bangalore once considered to be a sleepy town is now one of the upcoming hubs. The stretch of Outer Ring Road consists of IT parks, Malls, Hospitals, and Educational Institutions making it, a perfect package for those looking to invest in properties.

Location is one of the most attributing factors that rope in a lot of potential property buyers to this part of the town. With the road leading to the international airport, the stretch caters to various IT parks like Baghmane and Manyata to name a few.

The accessibility to Banaswadi and K.R puram railway station adds to the convenience factor of having a home at ORR. The northern part of town also dots a lot of scenic lake views such as Hebbal and Thannisandra lake. This not only provides the much-needed water resource but also a circulation of fresh air to these regions.

Unlike other regions in the city where the infrastructure cropped up post the IT boom, the northern part had a well-established infrastructure already in place before the construction of the international airport which led to an explosion of growth in this region. It’s further improvised by housing and commercial properties in this stretch.

The growth potential of the region is enormous, if you’re looking to make an investment in this part of the town look no further, the property value of this region is set to shoot up to 42 percent in the coming years, giving a true meaning to the return on investments.

Price advantage ought to get your attention when making an investment decision in this part of the town. On comparison with other regions of the city an investment in the north region is yet more feasible. But this could be a short-lived feature since there’s been a 10-15 percent expected appreciation in property surrounding the region.

Durga Petals is aptly situated on the Outer Ring Road IT corridor. A premium apartment spread over 5 sprawling acres consisting of 8 towers. Durga Petals is your one stop location if you’re looking to buy 3 bhk apartment in Bangalore in one of the hubs of northern Bangalore.

With over 40 amenities, the project is carefully designed to suit all your needs. The project is carefully designed to make your life more comfortable and provide you with a true sense of home. Durga Petals features amenities that give other project on the vicinity a serious competition.

Dawned with 70 percent open spaces there are various zones which cater to the needs of every citizen. Malgudi a section that takes your game play to the next level, featuring life size game boards, the experience is bound to trigger the kid in you. Nukkad houses a wide variety of arenas and courts such as badminton and basketball. Panchayat a zone specially designed for the senior citizens with a dedicated gazebo and chit-chat zone. Aangan a special recreation zone consisting of a swimming pool, rain dance floor, party arena and a barbeque area. Rangoli club house features top class amenities such as Gym and Spa, work from cubicles and few other effective amenities.

Exclusively designed with comforts that keep you close to the nature, Durga petals boasts all the aspects of a perfect home.

For more information on investing in Bangalore’s booming Outer Ring Road, visit us at our Experience Centre in Doddenakundi or click on www.durgapetals.in