With the aim of increasing the flow of credit to the real estate sector, the Reserve Bank has streamlined the risk weight ratio of all new mortgages approved by March 31, 2022 to LTV (loan to value). .. RBI, a new mortgage, attracts a 35% risk weight if the LTV is less than 80% and a 50% risk weight if the LTV is greater than 80% and less than 90%.
“As an anti-circular measure, it has been decided to rationalize risk weights, regardless of amount. Risk weights for all new mortgages sanctioned by March 31, 2022 from the date of this circulation.” And notification above. The 0.25 percent standard asset offering requirement will continue to apply to all such loans, the notice added.
According to the RBI, this measure is expected to invigorate bank lending to the real estate sector, which is critical to economic recovery, given its role in job creation and interrelationships with other industries.
Anarock Chairman Anuj Puri said the LTV ratio is calculated by dividing the amount of borrowing by the value of the property. For example, if you buy a house worth 80 rupees and pay a down payment of 10 rupees for it, you need to rent 70 rupees. “The risk weight assigned to LTV frees the bank’s capital for additional lending, and the bank has reserve capital for lending, which also helps lower lending rates.” Said Puri. He added that it would be possible to take out a mortgage at an attractive interest rate.
Tanuj Shori, CEO of Square Yards, commented on the RBI’s move, saying: We are facing serious downward demand pressure. “
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