Aakruthi

During a hearing on April 16, Jaypee Infratech had said that its valuation has been slashed drastically and had put forth an affidavit to the Supreme Court stating that with the help of interim funds, it can finish the flats. However, this proposal has been rejected by the apex court as the statute bars an ailing company to bid. Jaypee says that its representation should have been considered given that it had been completing 500 units every month.

Since RBI has waived prepayment penalty on floating rate home loans, this can be a good time for homebuyers who want to get rid of their mortgage as soon as possible. Borrowers can also tweak their EMI structure and make partial payment of your loan to save money in the long run.

The Supreme Court on April 25 asked Noida-based Galaxy Group, which is willing to complete three projects of Amrapali, to prove its credentials before entrusting the company with the task. Galaxy Group has proposed to take three projects of the company,Saphire-I, Saphire-II and Amrapali Leisure Park at Greater Noida.

The Navi Mumbai Airport Private Limited has announced that the international airport will be designed by the celebrated Zaha Hadid Architects. The architect firm will design the Terminal 1 and the ATC Tower of the airport. The London-based architect firm was selected after a 12-week design competition, which witnessed international architect firms participating.

While you might like to keep the loan tenure as short as possible, there are three factors to be considered before you take a decision in this regard- income, age and rate of interest. If your income is high, short term tenure could be a good idea as higher monthly installments might pinch you. Also factor in the cost of credit.