Page 16 - Banking Finance December 2016

HOUSING

HOUSING

NEWS
NEWS
NEWS
NEWS
NEWS

LIC Housing increases 20% yoy to Rs 495 crore Real Estate business to

LIC Housing Finance has reported a 20 against Rs 1,14,069 crore on Septem- drop 30% after demo-
per cent year-on-year increase in net ber 30, 2015, thus registering a growth
profit at Rs 495 crore of 15 per cent. netisation
against Rs 412 crore in Sunita Sharma, MD & Real estate business in 42 major cit-
the year ago period. CEO, said "The quarter ies all
across In-
During the quarter, the has looked positive for
company disbursed LIC Housing Finance dia could
loans of Rs 9123 crore, with robust loan growth drop by
up to 30
up about 9 per cent over the corre- and consistently strong asset quality
per cent over 6-12 months after the
sponding year ago period disbursement and improvement in margins. We con-
demonetisation in India, wiping out
of Rs 8,390 crore. The outstanding tinue to remain optimistic on our fu-
mortgage portfolio as on September ture performance during the balance over Rs 8 lakh crore worth market
30, 2016, was Rs 1,31,096 crore half of the current financial year." value of residential properties sold
and unsold by developers since 2008.
Modi says 'every Indian to have house by 2022', "In the aftermath of demonetisation

launches news scheme impact on Indian real estate sector,
market value of residential property
Prime Minister Narendra Modi has declared that 'Pradhan
Mantri Grameen Awas Yojana' is to benefit the working class, of Rs 802,874 crore is expected to be
wiped off in the next 6-12 months,"
farmers and the deprived. "We want every Indian to have a
house by 2022," Modi said. For this, Prime Minister Narendra PropEquity, an online subscription
Modi launched Pradhan Mantri Grameen Awas Yojana - a based real estate data and analytics
housing scheme which aims at providing affordable houses platform said in a statement.
to the rural poor by 2022. The market value is of 49,42,637
units, which are built-up ready, under
BAI organizes 'Build Tech' seminar to discuss modern construction and currently launched

house designs properties, available and sold since
The Builder's Association of India will host the annual two-day international semi- 2008 for 42 cities. Maximum fall on
nar 'Build Tech,' which will focus on modern housing designs and trends. Architects total market valuation will be in
including S Prakash from Pramur Groups, Kamal Sagar and Nagesh from Ultratech Mumbai Rs 2,00,330 crore followed
Limited will be the resource person. A technical volume also will be released during by Bangalore by Rs 99,983 crore and
the seminar in which around 500 delegates are expected to participate. Gurgaon Rs 79,059.

16 | 2016 | DECEMBER | BANKING FINANCE

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