Latest update on Ozone Heights Block -C & D Apartment on 30-Nov-2019

Published on 02 Dec 2019 16 Views

An excellent looking residential project, Ozone Heights Block -C & D at Osman Nagar, Hyderabad comes to you from Ananda Home Developers Pvt Ltd. It is combined with comfortable nearby facilities and modern amenities in one place. Property Adviser expert team recently visited the project on 30 Nov 2019 and brought information on present construction photos, material construction photos, price changes, available units and occupancy.

Updated information of Ozone Heights Block -C & D on 30 Nov 2019:

Till now, in our database, the Ozone Heights Block -C & D project got 39 times updates with 197 Construction photos from 28 Sep 2016 to 30 Nov 2019.
At present, the project has 72 available units for sale.
The price of project ranges from Rs. 90.7 Lakhs to Rs. 1.10 Crores at Rs. 4200 per square feet.
The project Painting Work is in process and will be ready in 10-12 Months.

Our trained team will re-visit the project by 30 Dec 2019 to get up to date information. Therefore, buyer will get the complete and latest information on Ozone Heights Block -C & D project that helps them to buy the best home in Osman Nagar quickly.

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Banks Reduce MCLR Rate by 10 to 20 Basis Points

Recently the Reserve Bank of India decreased its repo rate by 35 basis points (bps). After this several lending institutions such as the BOI, HDFC, SBI, and Canara Bank started lowering lending rates during the Monetary Policy Review. On 9th December 2019, the largest lender banks of India have announced lowering marginal fund-based lending rate (MCLR) cost by 10 to 20 basis points (bps) over one year, and it will be effective on December 10th onwards. What is MCLR? The lowest interest rate a bank or lender can offer is the Marginal Cost of Funds Based Lending Price (MCLR rate). Most banks are unable to provide home loan interest rates below the marginal cost of lending based on funds. However, there may be certain exceptions if the Reserve Bank of India (RBI) allows. What is Base Rate? Base rates are calculated from the total cost of bank financing. Both floating and fixed loans, approved by banks before 1 April 2016 are priced on the base rate as a benchmark, except the loans to their employees and their retired workers, and against deposits by the bank. The MCLR is based on the cost of collecting new funds, and therefore any adjustments to the repo rates lead to changes in bank lending costs that are sent to MCLR. RBI has stated that the base rates of the banks be aligned with the MCLR rates beginning in April 2018. It is expected to benefit home loan and loan against property borrowers whose loans are linked to the base rate. Any reduction or growth in MCLR rates will now automatically be applied to pre-2016 loans that are benchmarked to base price. Benefits of Reducing MCLR Rate Improvement of policy level translation into banks lending rates. The method used by different banks for determining interest rates provides transparency. Making bank loan available at rates that are equitable for both lenders and borrowers. Enable lenders and banks to compete and, in the long run, increase their value. Look at some of the bank's MCLR rate reduction basis points that are effective from Dec 2019. State Bank of India stated that the reduction in its marginal cost lending rate (MCLR of SBI) by 10 basis points (bps) across one-year tenor. HDFC MCLR on loans for all tenors by up to 15 basis points (bps) Currently, Canara Bank MCLR rate is 20 bps. Bank of India revised its one-year MCLR-based lending rates by up to 20 basis points across various tenors. BOI MCLR rate is 20 bps ICICI Bank cut its marginal cost of funds based lending rate (MCLR) across all tenors by 10 basis points (bps) Current MCLR Rate Reductions at Different Banks December 2019 MCLR Rate Bank Name Overnight 1 Month 3 Months 6 Months 1 Year SBI 7.65 7.65 7.7 7.85 8 ICICI Bank 8 8 8.05 8.2 8.25 HDFC Bank 7.95 8 8.05 8.1 8.3 Canara Bank 8.1 8.15 8.25 8.35 8.35 Bank of India 7.85 7.9 8 8.1 8.25 Yes Bank 7.9 8.75 9.2 9.4 9.7 Therefore, home loans are expected to get cheaper due to the recent rate reduction. This also offers a huge boost for the real estate sector, apart from the advantages of general lenders. The decrease in the MCLR rate means that people may be able to get home loans at lower interest rates from banks to buy a property in Hyderabad. This is likely to result in residential demand due to less interest costs, ultimately benefitting the end consumer. The residential projects authorized by reputable banks make sure that the project is trustworthy and that the agreement is offered. Would you like to purchase a property which is connected to a bank to supply a home loan? For more information on projects like available units, approved house loans, RERA approved status, nearby landmarks, etc. click PropertyAdviser.in and make well-informed decisions. By: Shailaja K

10 Dec 2019 | 14 Views

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