HDFC Average Home loan value Rs. 25 lakh..!
by Mr.
Keki Mistry, vice-chairman, Housing Development Finance Corp (HDFC)
The affordable housing segment, The opportunity
is huge, but if you have to make housing affordable, you will have to get land
prices down.
Second is funding of land. Today, largely private
equity investors fund it and the interest rate they charge is huge.
Third, expediting the process of project
clearance. There should be a single-window clearance for approval of projects.
HDFC average loan value is Rs. 40 lakh in Mumbai
and in pan-India it is Rs. 25 lakh. The main problem is price of land.
Today, there is a carpet area, built up area,
saleable area. You need to have an agreement, which captures what the real area
is.
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