12% Hike in Delhi and NCR Housing Rentals

House rentals on an average in Delhi and NCR have gone up by 12 per cent in the April-June period this year in comparison to the same period last year as per the real estate portal 99 acres.com on Tuesday said in a report. The report, which took 3 BHK flats into consideration, said the highest appreciation during the period in South Delhi was seen in the Saket area, where rentals increased by 31 per cent followed by South Extension, Safdarjung and Malviya Nagar by 24 per cent, 22 per cent and 21 per cent, respectively.

Home & Auto loans to be costlier

Many of the banks have raised their lending rate by 75 basis points. This makes the home and auto loans for the existing borrowers dearer. This increase is due to the RBI policy following which the lenders hiked interest rates. The RBI, had in its monetary review on July 27, raised the short-term borrowing (reverse repo) rate by 50 basis points and lending (repo) rate by 25 basis points.

Punjab National Bank (PNB), raised its benchmark prime lending rate (BPLR) by 75 basis points to 11.75 per cent.

Bank of Baroda, Corporation Bank and Oriental Bank of Commerce increased it by 50 basis points each to 12.50 per cent.

Union Bank upped their BPLR by 50 basis points to 12.25 per cent.

IDBI upped their BPLR by 50 basis points to 13.25 per cent.

SBI, has so far not hiked its BPLR .