Make in India campaign was launched by Prime Minister Sh. Narendra Modi on Sep 25, 2014. The key objective of Make in India campaign is to invite businesses not only in India but across the world to invest & manufacture in India. The purpose of Make in India campaign is (a) Job Creation (b) Economic Development (c) Global Recognition Indian economy is going through bad phase. In past, i wrote an article on Why India is heading towards Recession. Clouds of recession are still looming large. Current euphoria is because of election of Mr Modi and stable Govt in India. Sweeping ... Read More
Should i invest in Kisan Vikas Patra ?
Kisan Vikas Patra was initially launched in the year 1988. Kisan Vikas Patra was one of the most popular and successful small savings scheme in India till it was withdrawn in 2011. The reason for withdrawal was laundering of Black money through this small savings scheme. "Double your Money in 5 and a half year" was USP of Kisan Vikas Patra during 90's. The investment discussion between my parents revolved around only 3 saving schemes i.e. NSC (National Savings Certificate), PPF (Public Provident Fund) or Kisan Vikas Patra. To be honest, not many options were available during those days. When i ... Read More
How to calculate Income from House Property
Income from House Property is clubbed with the total income while filing Income Tax Return. One of the most common query i received is on how to calculate income from House Property. Income from House Property arises when you have a property which is Let out Property i.e. you receive Rental Income from such property. Though this head is titled as Income from House Property but it is not necessary that you only gain income from House property. In case of Home Loan, Income from House Property can be negative i.e. you may incur Loss from Let out property when Home Loan Interest outflow outweigh ... Read More
Pay High Interest for Higher Loan to Value Ratio
Indian Home Loan Market is gradually maturing. Sometime back a very imp news which went unnoticed was regarding setting up of India Mortgage Guarantee Company (IMGC). India Mortgage Guarantee Company is promoted by IMF, AIG and NHB (National Housing Bank) which in turn is wholly owned subsidiary of Reserve Bank of India (RBI). All HFC's (Housing Finance Companies) have to register with NHB before starting Housing Finance Business. Now you must be wondering why i am sharing this background and as a borrower how will i benefit from setting up of India Mortgage Guarantee Company. Lets check it ... Read More
Affordable Housing – A Myth or Reality
Affordable Housing is new buzz word in Real Estate market. Currently Real Estate sector is going through difficult times as the economy is still in bad shape and interest rates are high. Job loss is still a reality and it will take atleast 2-3 years to bring the economy back on track. Real Estate inventory has piled upto alarming levels in major cities. Currently banks lend at 14%-16% to builders which further increase the cost of property. In order to boost demand recently RBI revised the definition of Affordable Housing to benefit borrowers. Affordable housing is clubbed with infrastructure ... Read More
Why you should not apply Online Home Loan
Online Home Loan is very fast catching the fancy of many. The key reasons for increase in uptake of Online Home Loan service is convenience and intelligent online marketing. Remember that Convenience comes at a Cost, lets check how. In the month of July'14, i log in to internet banking of ICICI Bank. Welcome screen of internet banking offered me Pre Qualified Home Loan of 90 Lakhs. I decided to give it a try to check Online Home Loan service/process. Here i would like to add that Online Home Loan application software of most the banks is managed & powered by Bank Bazaar which is basically ... Read More
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