Illegal portions of 3 hotels axed

Written by Jayanta Sunday, 12 May 2013

( 0 Votes )Tribune News Service Faridabad, May 12 The Municipal Corporation demolished unauthorised structures of three hotels located in the NIT-1 market here yesterday. MC Joint Commissioner Mukesh Solanki said the operation against the hotels was in pursuance of a directive of the Punjab and Haryana High Court. Delight Hotel, Raj Mandir and Raj Mahal on...

How to handle home loan defaults

Written by Jayanta Sunday, 05 May 2013

( 0 Votes )Santosh had been quite regular with home loan EMI payments for the last three years. However, paying for his father’s sudden medical requirements drained off his balance leading to a couple of EMIs being defaulted upon. Once his initial worries about his father’s health were over, Santosh asked the bank what his options were with...

‘Our products will enable early home ownership with a lower down payment’

Written by Jayanta Sunday, 05 May 2013

( 0 Votes )The India Mortgage Guarantee Corporation (IMGC) is a first-of-a kind entity set up in the country. Its primary function would be to offer mortgage guarantees on housing loans. Amitava Mehra, the CEO of IMGC in an interview to L Ramakrishnan says that in the years to come, the aspiring home owner will be able to buy a home earlier and with...

To invest or prepay? A crucial decision

Written by Jayanta Monday, 29 April 2013

( 0 Votes )Ramesh has just received his annual bonus of Rs 3 lakh. He has a home loan for Rs 35 lakh with a private bank, and pays interest at 11 per cent per annum. The equated monthly instalment (EMI) paid by Ramesh is Rs. 34,500. He wishes to reduce this huge burden progressively. The long tenure of a home loan results in a substantial interest outflow,...