Chennai: Stating that this is the ideal time for consumers to purchase a home for themselves, LIC Housing Finance Ltd managing director and CEO Siddhartha Mohanty inaugurated the 22nd edition of Mega Property Fair ‘Ungal Illam’.
Addressing the media at the ceremony on 16 November, he said, “We propose to achieve a target of Rs 55,000 crore disbursement. Last year it was Rs 48,000 crore.”
During the meet, he stated that the company is witnessing strong demand, to own a house, from people between the age groups – 25 and 35 years and that the age of home buyers has gone down. “Earlier, before retirement one plans to have a house. But now with home incentives being offered, the government is also promoting the industry,” he remarked.
He said, “The Pradhan Mantri Awas Yojana (PMAY) scheme constitutes 26 per cent of the company’s portfolio. We are concentrating more on that segment.” With regard to the company’s financials, he said the company is looking forward to bring down Gross NPA to a level less than last year.
The southern region of LIC Housing Finance Limited comprises Tamilnadu, Puducherry and Kerala. The region holds 19 per cent of the loan book of the company. Chennai and its suburbs alone have 19 marketing offices.
Over 40 builders participated in the fair, displaying more than 100 projects.