Housing demand real, says LIC Housing Finance
ALWAYS IN DEMAND: Housing gets top priority among people
LIC Housing Finance has said home loan rates have not yet peaked but felt there is no asset bubble in the making as housing demand was real.
“Interest rates have no doubt been stable during the last two or three months. But it has not reached the level of 13-14 per cent as witnessed in the past. The rates have not peaked yet,” said LICHFL Director and Chief Executive Officer S.
K. Mitter. The company, he said, aimed at growing its business by around 25 per cent in the next couple of years, five per cent less than the average growth in the home loan segment.
“The industry is expected to grow by around 30 per cent, but we have set a target of growing by 25 per cent in the next couple of years,” Mr. Mitter said.
He added that the company was not in the race for gaining market share.
During 2006-07, LICHFL disbursed Rs. 5,121 crore, a rise of just five per cent. It sanctioned Rs. 6,105 crore, a 19 per cent spurt over the previous year. — PTI
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