by Mr.
Shobhit Agarwal, Managing Director –
Capital Markets, Jones Lang LaSalle India
The RBI
has reacted sharply to the fact that a number of banks and housing finance
companies (HFCs) are promoting home loan products such as the 80:20 or 75:25
schemes, which involve tripartite agreements involving lenders, developers
& property buyers.
The basis
of this move is that though these schemes do invariably mention the financial
implications to the consumer in the fine print, several consumers are evidently
unable to decipher the fine print. This move by the RBI is aimed at protecting
the interest of property buyers who are not aware of the long-term financial implications
of such & similar schemes. It is
definitely meant to advance the cause of greater transparency in the Indian
real estate sector, and also to protect the financial institutions that provide
funding in it.
For Media Contact
Mr.Arun
Chitnis
Head –
Corporate Communications
Jones
Lang LaSalle India
Level 6,
Amar Avinash Corporate Plaza
Bund
Garden Road,
Pune -
411 001.
Tel:
(020) 30930441 Fax: (020) 40196101
Mobile:
+91 9657129999
Website:
www.joneslanglasalle.co.in
Blog:
www.joneslanglasalleblog.com/realestatecompass
Twitter:
@JLLIndia_Realty
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