Market Sources, 2009-05-06
by India Research Team
Delhi, India
HOME LOAN
Corporation Bank reduced interest rates
As reported by the Financial Express, Corporation Bank has slashed its interest rates on house, education, vehicle and personal loans with effect from 4 May, 2009. Now onwards, the effective interest rate on housing loan would be in the range of 8.75 to 10.25 percent for loans up to INR 30 lakh, 9.5 to 10.75 percent for loans from INR 30 to 50 lakh and 10 to 11 per cent for loans above INR 50 lakh.
NEW PROJECT
Prime Group launched low-cost housing project in Lucknow
Prime Group, a Delhi-based real estate developer has launched a low-cost residential project in Lucknow. As reported by Business Standard, the project which is located on the Lucknow - Faizabad highway would have 250 apartments with sizes between 550 sq ft – 1,350 sq ft. The total cost of the project is estimated at INR 60 crore and is expected to be completed in two years.
About Colliers International
Colliers International is a global affiliation of independently owned commercial real estate firms. The organization's 11,000 employees span the world in 293 offices in 61 countries. On a worldwide basis, Colliers manages 868 million square feet, and has revenue of over USD 2 billion.
Contact Information
India.Research@colliers.com
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