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Tata Housing offers home loan rate of 3.99 per cent to new buyers

At present, home loan rates are around 8.5 per cent.

Press Trust of India  |  New Delhi 

Photo: Shutterstock

Realty firm today said it has partnered with Indiabulls Housing Finance to offer home loans at 3.99 per cent interest rate to those who buy apartments in its ongoing 11 projects.

At present, rates are around 8.5 per cent.

today launched its 'Monetize India' campaign in partnership with IndiaBulls Home Loans.

The campaign gives home buyers the opportunity to own a property "at a special, one-time rate of 3.99 per cent", the company said in a statement.

This special rate would be valid for the first five years.

The scheme, valid from today until December 12, 2017, would be offered across 11 projects by Tata Housing in seven cities.

Tata Housing Head Marketing and Sales Tarun Mehrotra said, "It has been an eventful year for the sector in India which is standing on the threshold of change...We hope that this will stimulate fence sitters to act on their need or wish to invest in real estate, as it continues to be one of the best forms of security and wealth generating assets."

Tata Housing is a closely held public limited company and a subsidiary of Tata Sons.

The sector is facing a multi-year slowdown and sales have further declined post demonetisation, the implementation of and the new law. Developers are offering freebies and interest subsidies to beat the slowdown.

(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)

First Published: Fri, November 10 2017. 22:44 IST