HYDERABAD: The Life Insurance Corporation Housing Finance Ltd (LICHFL) has targeted to distribute Rs. 3,500 crore towards housing loans in the current financial year, as against Rs. 2,500 crore of last year.
Inaugurating a three-day property show, ‘Sonta Inti Sambaraalu’ at Satyasai Nigamagamam here on Friday,Director and Chief Executive of LICHFL V K Sharma said that 39 builders and developers from various parts of the twin cities are showcasing their properties to the customers.
“We are maintaining of 20 to 25 per cent growth rate. Tier-2 and Tier-3 cities are bubbling with real estate activities. There is a stress on major cities. However, it looks good on long-term basis as the government of India recently announced that 2.5 million houses are required in next three to five years in the country, said VK Sharma.
The customers would get their loans sanctioned on the spot with new discount interest rate of 10.4 per cent (floating rate).The processing fee is reduced from Rs. 30,000 to Rs 5,000 and service tax for a property worth Rs. 35 lakh.Builders may also provide some discounts. The customer has got an opportunity to feel different properties of the city under one roof and can choose which ever is best for him, he added.