Tag: Delhi-NCR news

Survey Concludes, High Property Price, Low Ownership Home and Low Loan Rates.

Survey Concludes, High Property Price, Low Ownership Home and Low Loan Rates.

NEW DELHI: Home ownership among the urban middle class in India seems to be low at present, with high interest rates and property prices, among others, acting as the major deterrents for people in buying homes.

More than half of the people do not wish to buy a house in the next six months, with high interest rates and lack of personal savings and unwillingness to borrow being the most important limiting factor, followed by high property rates and insufficient loan availability, shows a latest survey by India Mortgage Guarantee Corporation (IMGC), in association with Kantar IMRB.

Just 32% of the respondents at present live in self-purchased homes, while almost 38% still live with their parents and the rest 30% live in a rented house, the survey shows……..Read more

Individual “Indians” residents in Pakistan and China cannot claim their property in India now.

Individual “Indians” residents in Pakistan and China cannot claim their property in India now.

RM | 15 March 2017| Tuesday

15 march.pngNew Delhi: On Tuesday Lok Sabha passed the enemy Property Bill, 2016 (Amendment and Validation) which denies the right on property of individuals who have left the country and settled in Pakistan and China.

The amendment was required after the claim by the raja of Mahmudabad of Uttar Pradesh who were claiming properties belonging to his father which were seized by the government of India earlier, following partitions.

Home minister Rajnath Singh said the purpose of the bill was to clarify the rules that inheritance law would not apply to enemy property a question which first arose in 2010. The government had passed an ordinance to enforce the law.

Rajnath Singh told that the ancestors of Raja of Mahmudabad had secured by singing the bond with The English Government, therefore neither the son nor the father have the right on the properties.

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