Home loan interest rates cut to 8.3%

Late last month, the State Bank of India (SBI) announced a reduction in its home loan interest rates by five basis points, to 8.3% for home loans up to Rs.30 lakhs. This is the lowest in the industry and came into effect on Nov 1, 2017. New customers looking out for home loans will be benefitted from this reduction.

Tamil Nadus Shelter fund Cess

With an aim to create a corpus to fund housing projects for the weaker sections of the society, the Government of Tamil Nadu has proposed a shelter fund cess from land development projects and industrial projects of a certain size.