After offering 10.5% from 11% In October 2007, HDFC has again reduced the rate to to 10.25% in 3 months. The rate decrease started in last week of december when allottes of Greater Noida BHS-08 scheme was offered 10.35% in order to compete with 10.25% of LIC housing Finance. Intense war is happening between two groups who are the only one offering this option to about 1500 GNIDA allottes.
This is welcome move and has heppend a day ahead of Mr. Chidambaram advice to banks to reduce rate. Hence we can expect some more cut here and other banks to follow suit especially Axis Bank who stays in line with market.
Expect More action here.
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