“UNGAL ILLAM 2013”, is the exclusive mega property fair organized by LIC Housing Finance Ltd (LIC HFL) at Chennai. The 16th edition of the fair was conducted from 19th to 21st July 2013 at Chennai Trade Centre, Nandambakkam, Chennai.
The show traces back to its humble beginning in 1997 with participation of 15 builders. Encouraged with the overwhelming response over the years, Ungal Illam has been a much awaited event for prospective home buyers. Started as a modest property exhibition, Ungal Illam has evolved as a marquee event during the last 15 years with more than 70 reputed builders of Chennai participating in it. About 15000 footfalls are expected this year.
The Fair inaugurated by Mr. V.K Sharma, Managing Director and CEO of LIC HFL on 19th July 2013. The main sponsor of the event is Amarprakash & co-sponsors are Ruby Builders and promoters and Muktha Foundations Pvt Ltd.
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| Mr. V. K. Sharma, MD & CEO, LIC HFL |
On display during the event properties ranging from affordable homes to luxury high end apartments. It is also that new projects launched by some builders during this mega show.
Prospective customers looked forward to value deals and discounts from the participating builders.The major attraction for customers is that they can get spot sanction of loans from LIC HFL. This helped them identify properties according to their eligibility and budget. Guidance provided by officials of LIC HFL regarding the technical aspects and about their loan eligibility which helped buyers make informed decisions.
Recently, LIC HFL launched three housing loan schemes viz. ‘New Bhagyalakshmi’, ‘Fixed 10’ and ‘Sure Fixed’ keeping in tune with the market trends and demand from home loan seekers. These are limited period offers upto 30th September 2013.
‘New Bhagyalakshmi’ has a fixed tenor of 3 years from the date of first disbursement and shall convert to floating rate thereafter. The scheme is exclusively designed for woman borrowers who are the sole owners of the property or the first owner in case of joint ownership.
The unique feature of this scheme is that the borrower will get additional 0.25% reduction in interest rates than other borrowers throughout the loan term. The fixed rate of interest is 10% for the first three years.
‘Fixed 10’ scheme offers fixed rate of interest for first 10 years from the date of first disbursement and shall be floating thereafter. Rate of interest is 10.75% onwards under this scheme. In the present situation where interest rates are fluctuating, the scheme will benefit borrowers who can look forward to fix their EMI towards loan for the first 10 years.
‘Sure Fixed’ scheme offers fixed rate of interest from 12% onwards for the entire tenure of the loan. This scheme will suit borrowers who prefer a total fixed rate instead of uncertain floating rates of interest.
The LIC HFL Company has increased the maximum tenure to 30 years for all its housing loan products to resident Indians with immediate effect. Young borrowers can benefit from a higher loan quantum due to increase in term of 30 years apart from lower EMIs.
LIC HFL in Southern Region..!
LIC HFL has its Southern Regional Office headquartered at Chennai and having 38 Marketing Offices and 4 Back Offices in the states of Tamil Nadu, Pondicherry & Kerala. The Company has a wide network of around 2500 marketing intermediaries who have specialized field force to provide hassle free service to home aspirants. For the year ended 31.3.2013, the Southern Region disbursed retail home loans of about Rs.5300 Cr (Rs.4800 Cr for year ended 31.3.12).
In Chennai & its outskirts, the Company has 12 marketing offices at Anna Nagar, Anna Salai (Area Office & Extension Counter), Adyar, Velachery, Tambaram, Teynampet, Virugambakkam, OMR, Poonamallee, Kancheepuram and Thiruvallur. Together, these offices have disbursed Rs.2704 Cr during 2012-13 (Rs.2407 Cr during 2011-12). The Company plans to open a new office at Perambur during the current fiscal.
About LIC Housing Finance..!
LIC Housing Finance Ltd is one of the largest housing finance companies in India having one of the widest networks of offices across the country and representative offices at Dubai & Kuwait. In addition, the Company also distributes its products through branches of its subsidiary LICHFL Financial Services Ltd. LIC Housing Finance Ltd was promoted by Life Insurance Corporation in 1989 and a public issue was made in 1994. It launched its maiden GDR offering in 2004. The company enjoys the highest rating from CRISIL & CARE indicating highest safety with regard to the ability to service interest and repay principal.
For further information please contact:
Annapoorni
Adfactors PR
Tel No: 044 - 28297497
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