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House Price Inflation Eases

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House Price Inflation Eases

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  1. Home Loan

  2. House Price Inflation Eases

  3. According to the latest data released by the Reserve Bank of India (RBI), the House Price Index (HPI) rose 9.8% year on year (yoy) in the third quarter of the Financial Year (FY) 2015-16. • This would be the quarter that ended on 31st December, 2015. This is the lowest ever rise that the index has shown. • What does it mean for you? Let’s find out. • What is HPI?HPI was created by the RBI to measure the change in the price of residential housing in India. • It is meant to serve as a gauge for house price trends in the country. HPI was created in 2010-11.

  4. What does the current data indicate? In the quarter that ended on 31st December, 2015, the overall rate of increase in the index has fallen below the 10% mark. • This is for the first time in almost 4 years. This is just like the Consumer Price Index (CPI), where fall in percentages indicates slower growth. • So, house prices have increased but at a slower pace than before. • Which are the cities that stand out? Out of the 10 cities, six cities showed a slow-down with regard to the growth in house prices.

  5. Interest is showing a downward trend – Interest rates have fallen significantly in the last 2 years. Consider this – RBI’s repo rate has come down from 8% to 6.5% now. This would mean lower interest rates on your Home Loan. • Protection in place – The Real Estate Bill has now become an Act as of 1st May 2016. This should help protect home buyers. • Buying a house is not a simple process and requires a lot of due diligence. A lot depends on your financial situation. • This should be given prime importance over all other factors. Make sure you think it through before you go for that Home Loan. • [Source: https://blog.bankbazaar.com/house-price-inflation-eases/]

  6. Click to know more on Home Loan: https://www.hdfc.com/emi-calculator Thank You…

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