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Musk Plans Mass Transit System

Musk "envisions dozens to hundreds of small stations, about the size of a single or double car parking spot, to alleviate traffic at any one spot".

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Musk was joined by The Boring Company director Steve Davis.
Elon Musk. Pixabay.
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SpaceX and The Boring Company CEO Elon Musk has for the first time revealed his concept for a personalised mass transit system or “Loop” that will carry 16 people and travel at 240 km per hour for a fare of just $1.

In a rare public appearance here late on Thursday, the Tesla founder also unveiled the project details, including 2.7 miles of tunnel that will run north to south parallel to the 405 freeway in Los Angeles, CNET reported.

Musk, however, did not provide a time-line for his project that could get people from downtown to Los Angeles International Airport in eight minutes in a vacuum tube.

Musk “envisions dozens to hundreds of small stations, about the size of a single or double car parking spot, to alleviate traffic at any one spot”.

Musk was joined by The Boring Company director Steve Davis.

Read also: Musk Hints Collaboration of SpaceX Rockets With Hyperloop Project

“It’s the only way we can think of to address the chronic traffic issues in major cities,” Musk said.

These tunnels were not yet part of his cross-country “Hyperloop” system, which would ferry people in tubes travelling at airline speeds at a much lower cost.

“Excited for @boringcompany partnership with LA Metro,” Musk later tweeted.

LA Metro is the Los Angeles County Metropolitan Transportation Authority, an agency that operates public transportation for the County of Los Angeles.

According to the city, the proposed tunnel would begin with the entry/exit point at 2352-6 Sepulveda Boulevard, north of West Pico Boulevard, in West Los Angeles.

Earlier, Musk hinted that he plans to link the hyperloop project under his start-up The Boring Company with SpaceX’s rockets to create a transportation system that may ferry people anywhere on Earth in less than an hour.

The Boring Company is an infrastructure and tunnel construction company founded by Musk in late 2016.

Musk’s aviation company SpaceX has got approval from the City of Los Angeles to build The Big Falcon Rocket, or BFR, which will be used to explore Mars — a goal that Musk hopes to accomplish by 2022. IANS.

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4 Most Popular Forms of Home Loans in India

The requirement varies borrower to borrower, for example, one borrower will need loan for purchasing the home where another borrower will ask for a loan to renovate his house.

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Home loan is a thing which is required for everyone at least once in their life to fulfill the wish of owning a house.
The requirement varies borrower to borrower, for example, one borrower will need loan for purchasing the home where another borrower will ask for a loan to renovate his house. Pixabay

Home loan is a thing which is required for everyone at least once in their life to fulfill the wish of owning a house. Borrower always wishes to get the loan at less rate of interest and at the same time the company also wishes to get the profit. Now coming to the home loan there is not only one type of one form where a borrower will get a loan to purchase a home. There are other various forms of home loan where a borrower can get a loan as per their requirements. The requirement varies borrower to borrower, for example, one borrower will need loan for purchasing the home where another borrower will ask for a loan to renovate his house. In this 21st century building a home is not everybody’s piece of cake but there is always a way for a will hence home loans provide you the way to own a house.

Many people are used to considering the home loan as a loan with the help of which we can purchase a house. But let me correct you guys who have this misunderstanding. You need to know we can get the loan for various purposes. The list below will tell you the forms of home loans

  1. Land purchase loan-

A land is used as a base to build the house. It is a property where the only land is presented and not the whole house. In this case, you are taking a loan only for a land on which you are going to build your house. Land purchase loans are given by banks or non-banking companies. It is not restricted to a person that a land should use only for building a house on it, you can also purchase is an investment.

  1. Home purchase loan-

In this form of a home loan, you can actually take a loan for purchasing a well-built house. The interest rate varies company to company for this type of home loan. Axis bank home loan provides this type of home loan.

  1. Home construction loan

This type of loan is applicable where you have your land or co-owned land and on which you are going to construct the house. The loans are given for overall construction of the house and not for the land or ready-made house. The borrower needs to predetermine the cost that will need to construct a house.

Home loan is a thing which is required for everyone at least once in their life to fulfill the wish of owning a house.
Many people are used to considering the home loan as a loan with the help of which we can purchase a house. Pixabay
  1. Home extension loan

Extension basically means extend the thing which you already have. And hence increasing the area of your house is called an extension of the home. These form of the loan are provided for suck kind of extension. Most banks consider this as the home improvement loan.

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  1. Home improvement loans

Owning a home is the first step but after some years what if you want to renovate your house? For this home improvement, you have a home improvement loans at your service. This form of the home includes overall cost required to reconstruct or renovate your home

  1. Home loans for NRIs

Why only Indians??? Don’t worry if you are NRI and you want to purchase home in India. Indiabulls bank home loans makes it available for you to buy a house in India. The structure of this home loan is similar to the regular home loans but paperwork can be exhaustive.

 

 

 

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