LIC Housing Finance looking to boost lending to affordable housing wing

The LIC Housing Finance is said to increase its focus on the affordable home segment considering the government push and increased interest among builders for this segment. The government has already been playing a key role in giving a helping hand to the execution of low-cost projects all over the nation. Also, variously reputed builders have shown up their interest in contributing to the affordable housing segment. According to the reports, LICHF has asked the regional and area offices to scout for affordable housing project financing.  The builders interested in affordable housing can be retail lending opportunity for the LICHF due to the project financing.  Reports also suggest that in 2016-17, LICHF did about 4,400 deals in the affordable housing sector. The company assures to bring out more beneficial and productive schemes to target the borrowers in the category. The officials have made it clear that it’s a mandate that the borrower meet the three basic condition for affordable housing. The first condition being that the house should be the first purchase, second- the income levels must match the slabs for various housing categories and third suggesting that the area should be within 60 sq m.

“The government has done the most from their end by introducing various enactments and amendments that have successfully paved a way for the affordable housing segment. Now, it’s really up to the developers and builders that they work in compliance with these efforts initiated by the government. We being dedicated to the affordable housing segment appreciate the emerging schemes and initiatives that aim to benefit the execution of low-cost projects and their sales” says Pradeep Aggarwal, Co- founder and Chairman, Signature Global.

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