Acute Shortage of Affordable Houses : Mr. V. K. Sharma, Director, LIC Housing Finance

Mr. V. K. Sharma, Director, Chief Executive, LIC Housing Finance (LIC HHL),  inaugurated the 15th edition of housing expo "Ungal Illam 2012" ((Your Home 2012) at Chennai on July 13, 2012. This is 15th edition of the LIC HFL''s property expo. This property fair is in association with major builders like Hirco, Ruby Builders, Baashyaam, Urban Tree etc

Supply & Demand..!

Mr. V. K. Sharma meet the press people. He said, ''Our company in the last two years had set up offices in the Kuwait & Dubai market.Adding that offices were converted into 'representative' office. Now, We are getting demands from Singapore & Malaysia. We will examine it.Southern region is one of our strengths.The Indian real estate market has become volatile with shortage of supply & demand. There is acute shortage of affordable houses. The demand has not decelerated, the supply has decelerated.This is creating a peculiar situation. In the commercial real estate market, there is a clear cut slowdown"

V. K. Sharma, Chief Executive, LIC HFL inaugurating 'Ungal Illam 2012' at Chennai 

Grow at 20%..! 

Mr. Sharma also said, ''Adding that the prices of plot of land in tier II and III cities have gone up substantially in the past 3 years. If there would have been a good number of supply, then the competition pressure would have kept the prices low...that is not there. Our total asset size is Rs. 65,000 crore, out of that our retail loan is 97% and the remaining 3 per cent is for the builders. Of course, it gives a pressure on our margin. We are trying to build it up.LIC HFL hoping to grow at 20% this year (2012) and has set a disbursal target of Rs 22,000"

Mr. S. Ramasamy, Regional Manager, LIC HFL. said, ''South India is a stronghold for the company & has posted a disbursement of Rs.4,800 crore last year of its total Rs 20,000 crore disbursement. It is Above 20% of our business.This is expected to grow 30% to around Rs. 6.200 crore in the current fiscal (2012-13)

The Chennai expo, nearly 55 builders are participating in the 3 day event.

Venue: Rani Meyyammai Hall & Raja Muthiah Hall, Egmore - Chennai.

Time: 10 AM to 8 PM

Date : July 13, 14 and 15, (Friday, Saturday & Sunday) 2012.

The entry for this Fair is free.

Corporate Office - LIC Housing Finance

Bombay Life Building, 2nd Floor, 45/47, Veer Nariman Road,

Fort, Mumbai - 400 001 Email: lichousing@lichousing.com,

For Customer Grievance : 91  - 22 - 2204 9799, 2204 9919, 2204 9682,

2204 0006, 2282 5968, 2283 3549

Fax:  91 -22- 2204 9839

Southern Region : Chennai

Mr. S. Ramasamy, Regional Manager - LIC HFL.

 Harrington Chambers,Block C, 30/1A,Abdul Razzack First Street, Saidapet, Chennai - 600 015

Email : ro.southern@lichousing.com, Phone: 91 - 44 - 2431 3906 , 91- 44  2431 3907, 91 - 44 2431 3908     

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